Wave Systems Corp. (fka WAVXQ)

[player1234]

Remember that quite a few quarters ago, Wave management acknowledged that their now famous "breakeven based on business in hand" statement was based on a 2% conversion rate.

I think you need to take a much smaller percentage, probably 1% of the shipped.

Doma has a valid point. Not all the "shipped" software should be considered. Many customers don't know they have it, other do indeed uninstall it and others may be waiting for a critical mass to use it. In any case, the conversion rate you used may be off by as much as a factor of 10 based on the current trend.