Let's not deny that questions exist. Questions about, for example, how people got slices of Wavexpress. Questions about, for example, who's on the payroll of Wavexpress. If you want to argue that the questions have answers, fine. But you can't credibly deny that questions exist.
Lee, MA – March 31, 2003 – Wave Systems Corp. (NASDAQ: WAVX – www.wave.com), a leader in delivering trusted computing applications and services with advanced products, infrastructure and solutions across multiple trusted platforms, announced today that its founder and Chairman, Peter J. Sprague, 63, has resigned from the Company’s Board of Directors and has been appointed Chairman and Chief Executive Officer of Wavexpress, Wave’s subsidiary engaged in providing broadband technology and services. As such, Mr. Sprague’s full efforts will be devoted solely to the management of Wavexpress.
Portland, OR – July 31, 2003 – Wave Systems Corp. (NASDAQ: WAVX – www.wave.com) announced an agreement today with Intel Corporation that will help enable both companies to accelerate the development and deployment of trusted applications and services for safer computing on personal computer platforms.
The agreement will enable Intel to bundle Wave’s software and services with a future Intel desktop motherboard, targeted for trusted computing platforms.
Wave to Receive $3.6M in Cash Proceeds; Q2 Webcast/Conference Call Set for Thursday, August 14th at 4:30 P.M. EDT
Lee, MA (August 7, 2003 ) – Wave Systems Corp. (NASDAQ: WAVX; www.wave.com) announced today that it expects to receive approximately $3.6 million in proceeds from recent employee and ex-employee option exercises and the repayment of a former officer's loan. Wave also announced that on Thursday, August 14, 2003 at 4:30 P.M. EDT it will host a webcast/conference call reviewing Q2 results (June 30, 2003) and recent progress toward deployment of its software solutions by year-end 2003. Wave's results will be issued after the market's close.
TELEPHONE: The conference call numbers are 212/346-6410 and 415/537-1934 (use either number). Please call five minutes in advance.
Wave reported that it expects to receive $1.0 million in cash from its former Chairman, Peter J. Sprague, representing the full repayment of a loan and all accrued interest. Mr. Sprague now serves as CEO of Wave's subsidiary, Wavexpress, Inc. In addition, the Company expects approximately $2.6 million in proceeds from the exercise of stock options with strike prices ranging from approximately $1.09 - $4.08 per share.
The options, which enabled the purchase of a total of approximately 1,189,000 shares, were exercised by current and former Wave employees and officers. Wave reported that its CEO, Steven Sprague, has exercised options for 150,000 shares and sold all underlying shares. Mr. Sprague's exercises/sales amount to less than 10% of his total share and option holdings in the Company. Wave also reported that its CFO, Gerard Feeney, has sold 100,000 shares of Wave common stock, also representing less than 10% of his total share and option holdings.
Lee, MA – December 18, 2003 – Wave Systems Corp. (NASDAQ: WAVX – www.wave.com), today reported that the Securities and Exchange Commission has commenced a formal investigation into certain matters relating to Wave. The SEC's investigative order, received by Wave on December 17, 2003, relates to certain public statements made by Wave during and around August 2003, as well as certain trading in Wave's securities during such time. The SEC has not concluded that there has been any wrongdoing, and Wave is cooperating fully with the SEC on this matter.
Barge: you claim: "Whitewash----For anyone to accuse the President and CEO of WAVE SYSTEMS, Steven Sprague, as having engaged in "self-dealing and greed" when there is NO FACTUAL BASIS to support such a position is an OUTRAGE and a DEFAMATION against his character."
Barge: I think if you re-read CM's post you will find he said the "Sprague family" and did not say Steven Sprague specifically. I also think the above chain of events by date, movement of share price, selling of shares, paying off Peters old loans and ultimately an SEC investigation provides enough FACTUAL BASIS to express the opinion in which CM did? I dont personally have a problem with the opinion he expressed in that particular post. You know I think the world of Steven personally. But I didn't take his post as being overly offensive? Got it?
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