Replies to post #244362 on Wave Systems Corp. (fka WAVXQ)

[tkc]

RoT, I follow you and can't really argue. Wave has purposely made this information very difficult to obtain. Heck they didn't even provide a Q3 cash flow, just a nine month one. I suspect the majority of our difference is for a few reasons. 1. My shortcut was never intended to be accurate - it could only be a SWAG. 2. I think I overstated rev from def rev. 3. Your OpEx includes non cash expenses. 4. Wave may have rec'd some cash from a source other than sales i.e. a prepayment on maintenence renewal of which only a small portion of which could be recognized as Q3 income - the rest deferred. So, I maybe low and you are quite high. It doesn't matter. Wave is in the swamp, not sweating the flys.