Wave Systems Corp. (fka WAVXQ)

[xxxxcslewis]

A valid criticism was made elsewhere.

According to the preliminary earnings release expenses in Q4 were reduced only approximately $800,000 from Q3. On the conference call Steven stated;

"we have reduced about a $1 million of operating expenses already expected out of Q4. We're on target to increase that number to about $1.5 million in operating expense reduction in Q4."

This statement perpetuates his frustrating and very irritating tendency to make exagerated pronouncements. It further damages his already low credibility with investors. Wave is finally making progress and Steven must be given credit for holding the company together. He must stop making statements that appear later to have been misleading.