Replies to post #6386 on Wave Systems Corp. (fka WAVXQ)

[rachelelise]

Ramsey2

I'm sure there continues to be a lot of behind the scenes discussions but with REG FD, the normal practices of disclosing information to selected analysts is not permitted and the practice has been curtailed a lot. Now with a company like Wave, arguably everything is of interest given the base from which they start compared to an established company.

I don't think Wave has much rapport with the street at all. Feeney is not the man for the job. They remain relatively unknown but the recent set of news and volume has caused some to look at Wave. The conference call was not the end all -- but it was an opportunity and someone who wanted to learn something would be scratching their head wondering if this stock is worth a billion dollars or zero. I also viewed it as a test to see if SKS has learned - he has not. I would have laid out different scenarios and let the analysts come to their own conclusions. Any scenario (even the worst) would have looked great. i would have practiced for this call asking my team to consider the questions we might get and then refining my answers. I doubt if that happened. Well I won't dwell on it here -- I'll talk directly with him.

[vickers2]

Ramsey, having worked in the investor relations field for many years I can offer a little feedback to your questions. In general, yes, there is quite a bit more communication between senior management and both the buy side and sell side communities (although mostly the buy side, ie, mutual funds, pension funds, etc.) The amount of interaction between the company and the buy side depends on how proactive a company is. Many companies specifically target institions they feel would be interested in their "story". Theoretically a company can not divulge any "material" information to potential investors without releasing to the entire investment community. With that said however I can tell you that having sat in on many meetings things are mentioned that you or I would not hear about. Yes, analysts do indeed call the CFO with some degree of regularity.

In a nutshell, if Wave is proactive in attempting to line up new investors the conference call is but one avenue for the company to talk to investors.

Hope this helps somewhat.

Best, vickers