Wave Systems Corp. (fka WAVXQ)

[muenchen]

Reading Tea Leaves

I would be looking for $2.4m/$2.5 million for Q2.
I would be looking for $3.0m for Q3.
I would be looking for $3.5m for Q4.

I don't expect much more than $11m revenues for the whole of 2008.

I don't expect Break-Even before Q2 2009.

I would expect WE to be sold off some 3 months after the Olympics at whatever price Wave can get.

I do not expect anything like $30/40m for WE.

I am anticipating Wave having to go back to the market at least twice for more funds to keep the doors open this year before they receive any monies from the sale of WE.

I don't believe that Wave can pull this off on their own and they are in real need of a strategic partner/investor.

Please take the above FWIW. It is my opinion only. I would dearly love to be proven wrong.....

Muenchen (a long-time long)