Wave Systems Corp. (fka WAVXQ)

[internet]

Barge...re Expat...YOU ARE DEAD WRONG!!! One may not always agree with Expat...but he's no Chameleon....Re the BOD....let me assure you that he's NOT the only one who believes the way he does. Those of us that had a "pre-meeting" with Gilder discussed similar concerns. We were given certain assurances...let's see what comes about in the next few months. If nothing changes regarding the make up of the bod by the end of the year...then more aggressive actions will be required for the next proxy vote.

One of the most important things I learned from the recent SHM is how complex these potential sales truly are for Wave. First...they must convince the potential client to switch to SEDs over software encryption. That itself can take a long time for pilots to run their course. Then...after the potential client has made a decision to adopt SEDs...then Wave has to then compete head to head with the software encryption guys for the right to manage those SEDs that Wave convinced the company to go with......there are enormous growing pains to say the least.....The problem is when upper management throws out comments like...5 deals to close by the end of the year although some may slip into Jan. Well...here we sit in the middle of july....and all we have heard about is the expansion of the GM deal and BASF........WHERE ARE THE OTHER 3 DEALS????.....and there is the problem......total lack of trust. Does this mean that Wave is not infact at the end of these sale cycles and that we will eventually hear about these missing deals....no!!! we are very close.....but the problem is that when investors make decisions based on info gleaned from upper management...and that info turns out to be worthless......that has directly lead to the current lack of trust in our CEOs commentary by the marketplace. What SKS needs to do is stop making forcasts when we are still in the very early stages of the transition to TRUSTED COMPUTING. The fact that we do not have a BOD that looks after shareholder's value has in part directly contributed to this situation...IMHO

Sincerely,

Jas