Wave Systems Corp. (fka WAVXQ)

[RootOfTrust]

(Edit): Thank you Ispro...

I am not sure about your 100K Dell FDE drives in Q1 though. If true, that would mean a large number are being sold ahead of Wave being involved, because as we all know, Wave is not selling anywhere near that number in Q1. However as I pointed out in my customer base/sales model, it's not at all bad if Dell customers are committing to the hardware ahead of buying ERAS, if Wave finds out who a lot of them are, because at least they are buying the hardware which is an easy upsell for ERAS, and a shorter process I think than starting with piloting the hardware...they have already bought the hardware and then they just need to pilot ERAS (should be a quicker sales cycle).

Steven referred to this scenario in the Q4 call. He didn't mention a shorter sales cycle, but he indicated the customer comes in one of two ways (before or after they buy the drives)...he mentioned this in his opening remarks. Then later when answering questions he referenced cases of a thousand drives (more than one) and a case of three thousand drives...cases where Wave got the customer AFTER they bought the drives.