Zeev...re Peter Sprague/NSM...You are correct in that Peter was formally related to NSM. As you are currently aware...Steven Sprague is our current CEO while Peter has taken control of WaveXpress. The important part of the NSM deal is that Wave WILL receive a fee from NSM for EVERY Safekeeper TPM they ship. According to Steven Sprague...NSM has informed the company of design wins using the Wave enabled Safekeeper TPM.
Zeev -- I'm not so sure the IBM release is important, and I don't even think the INTC release is as important as traders and pumpers make it out to be.
I've looked into this company, and it seems like they have a history of pumping the stock with PR's, name dropping companies like INTC, IBM, NSM. Just take a look at their news archive: http://www.wave.com/news/news_archive.html
INTC sells dozens of different motherboards, so shipping one with WAVX is hardly a monumental event, particularly since it is scheduled for a Q4 release and WAVX will only get a royalty for each MB sold with WAVX. As you can see from the article I'll link at the bottom, it's questionable that anyone would even want this MB. Also, per a DJ newswire story tonight, "In a recent filing with the SEC, Wave Systems disclosed it has only enough cash to fund operations through approximately Oct. 15, 2003." Any revenue from this deal (royalties after sales of a product not out until some time in Q4) may be too late, but people know the INTC name mostly for its chips, and it's a good name to pump if you have a lot of shares to sell...
I'd be careful with this one. It smells an awful lot like a giant pump and dump to me. It just happened to get picked up by a lot of momentum daytraders and CNBC and then more momentum daytraders. When they move on, WAVX should sink back down under the pressure of traders selling and insiders dumping.
With such a long history of hype and no results, I would be very surprised if this company were able to produce solid results in the future, particularly with Microsoft competing with them in 2005:
Widespread application of trusted computing technology will only come with the next version of Windows, dubbed "Longhorn," which is scheduled for release in 2005, Pescatore said. Changes in the Windows kernel in that release will enable Windows to interact with trusted computing chip technology being developed by Intel, providing hardware-based encryption of sensitive data.
While the deal with Intel may be welcome for customers who were already considering deploying Wave's software on an Intel platform, it will probably not be enough to draw in uncommitted customers.
"Why should customers adopt Wave's technology now if, in two years, Microsoft is coming out with the same thing," Pescatore said.
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