Wave Systems Corp. (fka WAVXQ)

[bbigtim]

barge/Your Latest Cheerleading

I don't feel that it should be necessary to belabor this point. However, many of us who feel that the current options proposal is excessive and reflects inadequate oversight by the BOD do not base our view on any critique of the performance of Wave management.

I have made it clear repeatedly that I think that Wave management has done an excellent job in positioning the company as the acknowledged leader in trusted computing. I do not consider the slow pace of adoption of trusted computing by government and enterprise users to be due to any failure or omission by Wave management.

I believe that the explanations provided to date by Wave management for its options proposal have been totally unconvincing and have only made the matter worse. I respect the views of those like DooWop who think that we should vote yes because rejection of the proposal would be disruptive and because abuse of its provisions is unlikely in light of the subsequent criticism. I do not respect the views of those who have blithely accepted this proposal as reasonable and proportionate.