Wave Systems Corp. (fka WAVXQ)

[dig space]

mammon, that is the million dollar question,

we know Wave has acknowledged that the preponderance of its offerings will some day be subsumed by the OS, some sooner than others.

we know Wave offers other apps that ride on TCG, but for the most part there are varying degrees of competition w/re to those products

some argue that the OS (MSFT) will never take over some aspects of Wave's offerings ... this notion that the other gorillas won't allow it(I find this to be very dubious)

we know that SKS has said he plans to do all that innovation new products stuff, during and after riding the to-be-subsumed-utility gravy-train.

and then you ask, so what ARE those new producst going to be? SKS always talks about dynamic, transparent, on-the-fly (literally) automatic WiFi logon and credentials verification "I've paid". Could that be a service (in jest)? Doubt it, but you never know.

will Wave ride a single Wave and then get relagated?

Fact is, taint something one has to worry about today. If Wave starts bagging revs and that leads to crazy multiples ... then one needs to pay close attention.

(oh, and on Q3 revs, folks seem largely opptimistic : http://www.investorshub.com/boards/read_msg.asp?message_id=7842865