The Jailhouse

[HhH]

24601: Not wrong at all...

Yours was not a commentary on the egregious greed of the management of WAVE at all. You merely posed a question about why Peter Sprague, former Chairman of WAVE Systems and presently an officer of the majority-owned WaveXpress was not required to file the usual insider-trade forms with the SEC. I believe I posed the same question months earlier, as a matter of fact. My impression, given a not-so-thorough review of the SEC requirements, is that officers of subsidiaries appear not to be bound by the same rules as officers of the parent. If this is the rule, one must wonder if the whole object of demoting Mr. Sprague to his position running the incredibly unprofitable WaveXpress wasn't to enable this very sort of transaction. Once again, management finds ways to line its own pockets. That's what it's all about in Lee, MA. I do believe you've been duped, John. Just my opinion, of course. You are entitled to yours.

P.S. Do you believe WAVE management is too greedy or not? It's an easy question.

P.P.S. WAVX = Management HYPE AND PIPE operation. Hype the prospects. Pipe as much money as possible to the management team. And thank God for a cult to defend you while you do it. All perfectly legally, I expect.