Wave Systems Corp. (fka WAVXQ)

[Genz2]

Sampling phase... SKS said there were about 1000 FDE Laptops shipped when it was first launched at the end of July. That was a period of 2 days to a week depending on how you read what he said. He also said that the majority of the customers were smartly purchasing ERAS but that most of these purchases represented sample buying. The sample ERAS server has 20 seats. If you have these 50 customers purchasing the Dell Latitude's with FDE in December that would be some volume and the majority of the customers that Dell started working with were high seat customers. I'm sure Dell/Seagate/Wave sampled out more that 1000 laptops from July to the end of December. I think if Dell is doing 50k or less per quarter then there are some real problems we don't know about. JMO