Just got back from the shareholder's meeting.
The voting breakdown:
1. Election of the Directors: 36.3M For and 3.2M Against
2. Employee Stock Option Plan: 7.1M For and 3.8M Against
3. Directors Stock Option Plan: 8.1M For and 2.7M Against
Two of the Directors were missing; Gilder had scheduled a previous engagement in Turkey and McCoghany (spelling???)has been ill. Steven used the first 20-30 minutes of his presentation to go over Wave's mission and products for new investors. He then starting to tie in the three revenue legs: FDE, NAC, Enterprise Upgrades. SKS reiterated the Dell FDE announcement is very, very, very soon. He stated this 3 different times during the presentation. I'm guessing we are just days away from the announcement.
Microsoft with NAC is approximately 6 months behind Seagate.
E-Sign is cashflow breakeven/neutral.
NTT Data has forecasted decent size revenue for 3rd and 4th Qtr. SKS then stated he will believe it when it hits the books.
Wave is currently testing on Golden Master Images for both Army and Air Force.
The first window to see a possible enterprise wide license is the Sept/Oct timeframe. We will not be named in the DOD announcement scheduled for 6/15. I think I actually posted this story yesterday.
The main reason why we got $15 million was because we were getting pushback from our partners if we are going to be around. We have enough cash now for 1 year and he thinks this will be the last placement.
Enterprise deals - Closed a couple, not large ones.
Since March, the volume of people requesting FDE is overwhelming and we have customers who would buy the FDE yesterday. I like Lark's comment "Seagate FDE's are going to be crazy!"
More to come
AI
