cooler, I'm sure this is the kind of event SKS referred to at the SHM. The magnitude of this deal should establish a pretty stong valuation for WXP and allow Wave to sell all or part of their interest. Some may feel that Wave should now hold on tight since prospects for WXP have suddenly leaped, and perhaps they have a point, but I think Wave selling all or part of their interest does have merit. First, WXP is not Wave's core business, and it also doesn't have the technological lead that Wave enjoys in hardware based security, so now could be a good time to consider using this asset to properly fund Wave Systems until its own market becomes fully engaged, and in the process avoid further stock dilution, with the possible exception of a short term bridge funding.
How ironic is this? Little old unappreciated subsidiary WaveXpress could very well become responsible for a major stretch of the runway for Wave Systems just as the core business is ramping and has its greatest working capital requirements. SKS hypothetically suggested values in the range of $40m at the SHM, if the right event should catapult one of their two subsidiaries, so if this can truly be fetched for WXP then today's news could be a huge turn for Wave.
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