Replies to post #30902 on Wave Systems Corp. (fka WAVXQ)

[bdooley]

Way to Barge!! EOM

[IAMSAM]

barge, thank you kindly for the time and energy it took for you to provide that thought provoking report.

Much to consider.

Regards -- SAM

[rwk]

barge / thanks, but no caps or bolds anywhere? That's a first!eom.

[TREND1]

Interesting.
VISON is nice,
but REVENUE is the FACTOID !

[john_galt]

Barge,

That's quite a mouthful (screenful?). I don't think I've seen a more compelling case for Wave than what you have summarized. My thanks to your efforts.

Now, back to lurking....

[Burpzilla]

Good report, Barge. He sounds like a charismatic individual who made an impression on you.

I did find this part disturbing:

"11. I have little doubt that he reads this Board on a daily basis."

Also, this part:

"Kevin and I met up with him at IDC in the late morning between about 10:30 AM to 12 PM. ...In total I had about 4 hours with S. Sprague"

The fact that the CEO spent 4 hours of quality time at IDC with a couple of small investors rather than with industry players strikes me as a blatant misuse of his time.

Also, when combined with the fact that he reads this board, it makes it appear he wants to manipulate shareholders' expectations. In light of the SEC investigation and the class-action lawsuits, he really should purge himself of his interest in stock-messaging boards.

[UncleverName]

Barge! Awesome post!! Thank you! /eom

[Vacationhouse]

Barge, Out of all of it, I am real sorry to hear

that Carly dosn't get it! Also, about the Verisecure being way off. This must have broken you up terribly!

You said...
"I walked away feeling very humbled about what I thought I understood. "

If you felt this way, I must be totally lost and should give up now!! LOL!

Will I ever understand the full ramifications of this investment/Company? Will we ever see what always seems within our grasps?

THANKS for the fine post!

Best Regards,

Vacationhouse

[hawkshaw]

Barge...Great input! Many thanks...(and to Kevin too).eom

[mammon]

Barge: disturbing points: I don't quite know where to start. The OEMs don't get it? He's been saying that for years, and that's not good. They're happy with the basic services? Not good. Wave gets some of the basic utilities for awhile, then the bigger oems will develop their own: not good. SKS isn't going to wallow in self-pity about what might have been: what does this mean? It can't be good.
The only part I liked was Paragraph #3. Revenue opportunities. I haven't sold shares in years but that post was truly discouraging, imho. [And wait til spin reads it - yowsa!]

[TREND1]

Why am I not surprised that there would be a "Probability Distribution"
about your post? Some like it, some don't.

People at the top of a company are different.
That's why they get to the top.

[boombreaker]

barge! - Wonderfully intuitive, and full on descriptive account, proud of you. Regards Boom

[jakes_dad]

Great Post barge, see ya in Viva las Vegas!! eom

[2bStealthy]

barge, thank you for your thoughts. It is rather informative. eom

[howard_b_golden]

Barge, your post about your lunch was very informative.

I don't see any problem with Mr. Sprague having lunch with shareholders. I'm sure his lawyers have trained him about what he can and can't say.

One part of your report was puzzling to me. You state that you believe he was using "misinformation" or "misdirection" in some statements. Perhaps he was being very truthful and your belief was incorrect. It seems to me that a CEO is more likely to either answer truthfully or decline to answer at all, rather than misinforming or misdirecting. I think this would be especially true of Mr. Sprague, with all the lawsuits Wave is now facing.

He may personally expect better results than he states, but he is perhaps being conservative in the predictions he is willing to say aloud. I don't think anyone could blame him!

[awk]

barge: Thank you for your efforts...

I have met with SKS a few times over the past few years...usually at official get-togethers.

Your description of "da' man" is spot on!

[allman]

Barge, SKS' comments about Microsoft intrigue me.

SKS will trash his competitors and everyone who won't do business with him. So if he is saying that Microsoft gets it, that means they are playing ball with him. His comments about the platform evolving to openness with NGSCB confirm that that is where the collaboration between WAVX and Microsoft is occurring. This is important since Microsoft is typically viewed as a future competitor to Wave.

Moving laterally to Intel's Prescott and LaGrande. There was little focus at IDF on either topic and that continues to cool my near-term excitement for Wave. Having said that, when I combine SKS's comments about Microsoft with my previous analysis of the LaGrande module, I become more certain that Intel had premium services in mind when they designed it.

While the basic TPM software business can help Wave's cash flow in the short-run, it is not a sustainable business. I will need some data (as you have suggested) on the activation rate to get more excited.

I am trying to stick close to Wave again as Intel will eventually launch Prescott. Security concerns aside (it's really just a marketing tool to Intel), they will use Prescott to try and garner their unfair share of premium services through revenue sharing partnerships with companies like Wave.

[TonyMcFadden]

barge, because of these [law]suits I think it was foolish for you to a) have lunch with SKS, b) make statements that say SKS appeared to be making misleading/misdirecting statements and c) claim that SKS "let slip" some inside info (inadvertently revealed too much???), but that you would keep it to yourself.

Granted, it was SKS's decision to have lunch, but b) and c) fall entirely on your shoulders.

Sorry barge, but forget Carly, you don't get it.

[tommyboy42]

Barge,

Thanks for the report.

Best Regards
Tommy

[mammon]

barge, what is an Endorsement Key? What would the potential liability issues for managing them be? What is a "certified TCG server?" How will wave market a "certified TCG server" and to whom? Where and to whom is wave offering its tcg attestation manager? If it's not being offered right now, how can you be so sure that it will be? Am I missing some future services part of the web site? What approximate fee will wave charge for its TCG attestation manager? Its managing of the Endorsement Key?

When you talk about subscribers activating Embassy Services later this year, are you referring to the the document manager and smartsignature services?

[TraderJoe812]

Hey Barge... great report.

By any chance... are you excited about the revenue numbers that come out in March? Just thinking that maybe he gave a simple indication that revenue flow has begun to some extent.

Lucky

[bowWAVE]

Bravo post barge, thank you. I hope it gave you some fresh paths for the mind to wander, i'm sure it must have.

bowWAVE

[cpa]

barge,

It sounds to me like you should have been wearing your hip boots during the luncheon.

What will you do if, as a result of a proxy question, SKS is removed? Would you sell?

Reading your post reminds me of the feeling I get after I meet with SKS.

CPA

[kantbleveit]

Personal Interview with S SPRAGUE by a WAVOID.

vintage 2004

Although the LINKED post is NOT being touted as the POST OF THE DAY; it would not surprise me to learn that it MAY have been the post of the day/week/month as much for its content as its colorful writing style.....

Kind of interesting information regarding the TCG "allowing WAVE to be essentially the only TCG utility services player for at least the first significant phase of TPM deployment"...

A snipped from the WAVOID interview with Sprague;

"to conclude that a conscious decision had been made by the leaders of TCG to allow WAVE to be essentially the only TCG utility services player for at least the first significant phase of TPM deployment. I also gained the impression that at a later stage a few of the first tier OEMs like HP, IBM would develop their own utility/management services. It appeared that WAVE's role later down the line would be that of providing Utility Services for the 2nd tier PC OEMs like E-Machine and Toshiba. In other words, all PC companies who didn't want to spend the time/money developing their own lifecycle Management tools would be using WAVE's. "


Overall, entertaining reading, and, imeshfo, a lot more fun (and enlightening~) than reading some of today's exchanges.

kantbleveit