Wave Systems Corp. (fka WAVXQ)

[rachelelise]

OK

I hope you can now see why this is so unclear. In the explanation provided to you, you would think that people who don't vote aren't considered to have voted. The proxy suggests that if you don't vote, that is the same as actually voting no (at least in the counts). That means that of the 42 million shares outstanding, a very high percentage will be considered as having voted. Since we are bandying around 25%, instituions are 10%, employees are ? (think they want the options?), that certainly leaves a big silent majority.

This is an incredibly important point.