Wave Systems Corp. (fka WAVXQ)

[SPIN]

edit2: comments from laid-off employees

SO, how many (non-sprague) employees are currently on the Wave payroll?

just what do you think this guy is "getting at" awk? you can blog w/him & try to find out.

from yahoo:

A Wave of Delusion

My wife and I used to work for this company, and the maneuvers the executives get away with are stunning. This Smart Money article explains.

Wave Systems is always on the verge of running out of money. Consistently, however, they manage to find financial backing at the last moment. This article by Scott Patterson at Smart Money does a great job of describing what goes on within the company. This excerpt reveals the behavior of the company's board and executives:

"Wave made a loan of $250,000 to the company's chief financial officer, Gerard Feeney, in 2001 so he could pay capital-gains taxes on exercised Wave stock options. After extending the due date on the loan in 2002, the company approved a bonus on March 27, 2003, "in an amount equal to Mr. Feeney's obligations with respect to such loan and accrued interest," according to Wave's 2003 Schedule 14(a) proxy filing. Feeney repaid the loan with the funds from the bonus."

The entire article is worth reading. The media has generally been focused on the behavior of executives at large-cap companies. Perhaps it is time to look at the small-cap publicly owned companies as well.

Posted: Wed - August 27, 2003 at 12:59 PM   edhand.com   Articles   Comment (0)

http://homepage.mac.com/edahand/iblog/B1323778479/C590598292/E905065596/

EDIT: hawkshaw, there's always the super-secret alternative, though subpeonas might eventually shine light.

http://www.cadcamforum.net/board/memberlist.php?mode=joined&order=ASC&start=150&sid=2db9....

Doma -- what if someone buys an MB & decides to wait to use the TC features (or decides to wait until a company w/more than a Q worth of operating cash builds a key mgmt solution based on the open TCG specs?)

edit2: i dunno if everyone is out to get you Doma. i just know that longs want a world where the stock is @ $100 & they want to be left alone. the two wishes are mutually exclusive. you want worldwide dominion? with that comes the burden of debate & discussion about the lumpy rug in the middle of the room where a bunch of stuff has been swept over the years. just can't have both...

btw, what's next to panic?

maybe PP shares don't get SEC approval (& PPers sue Wave for breach of K)

maybe Wave runs out of $ before world dominion

maybe MW brings forth facts in discovery that sink yer battleship

maybe the SEC doesn't give Wave the clean bill of health so many here see w/certitude

maybe the case/s go to trial & Wave is slapped w/a multi-million judgment award

maybe MSFT really is developing a rival product w/RNBO

maybe a trading halt

maybe delisting

maybe bankruptcy

maybe civil &/or criminal actions brought against principals

who knows, maybe none of this stuff & Wave actually starts selling something to someone?