Wave Systems Corp. (fka WAVXQ)

[StocWatcher]

For the Record...

1. "Wave reported a net loss to common stockholders of $14.5 million, or $0.21 per basic share, for the full 2004 year,"

2. Wave receives just "north" of $10 per ETS software "Purchased." (not necessarily activated, which could lead to additional revenues).

3. Dell shipped roughly 31,000,000 computers in 2004. forecast growth of 10% for 2005 equals just north of 34,000,000. http://www.itnetcentral.com/pcworld/article.asp?id=14232&leveli=0&info=PC+World

4. Basic math 16,000,000 break even for 2005 (added a bit for good measure) equals 1,600,000 "purchases" of ETS software which "Dell Recommends." this is the "5%". It is NOT roughly 3,000,000 computers with ETS "purchases."

5. Obviously in 05 all Dell computers will not ship with TPM's, however that's where their headed.

6. Waves gets a bit less than $1.00 for every Intel MB sold with a TPM. Inclusion of TPM is headed to 100%. How many MB's does Intel ship annualy? "** Motherboard units set a record"
http://www.intel.com/pressroom/archive/releases/20050111corp.htm

7. This takes into account none of the other revenue sources.

8. I don't like the "Shelf" anymore than anyone else including Steven. It's a "means to a beginning." As I understand it Fred Smith (Fedex) made payroll in Vegas. http://yahoo.businessweek.com/magazine/content/04_38/b3900032_mz072.htm. Shelf looks a bit safer.

9. Looks like not much more priming will be necessary to get the engine running on it's own. And it looks like it could be a real race car.

10. 250K for '05 might be just a bit short ya think?

11. Think I might pick up a bit more.

Stoc