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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: Pure Folder who wrote (3529)	8/5/1998 11:16:00 AM
From: andrew peterson	Read Replies (1) \| Respond to of 11417

I think that's right, PF. Also, I believe that the fact that Peter Sprague may have sold "all" his class A shares doesn't mean much since what he owns are class B shares -- he converts a few to class A in order to sell them. Please correct me if I'm wrong about this -- but I'm pretty sure that there's no massive unloading of insider shares going on.

To: Pure Folder who wrote (3529)	8/5/1998 1:35:00 PM
From: Eric J. Beyer	Respond to of 11417

freerealtime.com:8000/quotes?symbol=WAVX&type=News

To: Pure Folder who wrote (3529)	8/5/1998 7:07:00 PM
From: snackman	Read Replies (1) \| Respond to of 11417

Pure Folder Good afternoon. I talked with David Collins last week and according to him Steven does not own any shares. He does have options but he could not tell me at what price. He said a proxy will be coming out soon and will list his options. Peter is converting "b" shares to "a" shares. The "b" shares are voting shares only. By converting to "a" shares it give him the ability to sell when he wants to in the open market. There are no buyers for the "b" shares. Peter owns 1.5 Million shares. Each time he sells the "b" shares he buys the "a" shares. His position has not changed. The options give Steven a huge incentive to see this company to its frutation. I believe he will. Snackman

To: Pure Folder who wrote (3529)	8/5/1998 8:52:00 PM
From: cpa	Respond to of 11417

Some questions I recently asked and had answered. Kent would you please take the time to answer a few questions about the > recent 144 fileings by insiders. > > The three im interested in are as follows: > > 1) President & Fellows of Harvard College - 50,000 shares sold > > 2) S & F Living trust - 12,000 shares sold > > 3) Peter Sprague - 10,000 Shares sold > > Could you tell me if any of the above were: > > a) exercising of options? If yes, were they about to expire if not > exercised? > > b) conversion of class B shares to class A shares? > > c) outright sale of exsisting shares? If yes, approximately how many > shares the the seller still have? > > I would like to post your response on the chat room boards, because I know > others are interested in the answer to these questions. > > As always thank you in advance for your time, I know you are a very busy > person. The answer: At long last, a reply to your inquiry directly from Peter Sprague, founder, Chairman and CEO of Wave Systems. FYI, Mr. Sprague's stock holdings are all in the form of Class B shares which have super voting rights. To sell, he must convert them into Class A shares. That's why whenever he sells, the reports "look" like he's liquidating his entire interest in the Company. The reporting services don't take into account his Class B holdings or options, doing great disservice to properly informing investors of his true equity holdings. Subject: Re: Recent sales by insiders Date: Thu, 23 Jul 1998 18:06:30 -0400 From: "Peter Sprague" <PSprague@wavesys.com> To: collins@jcir.com I sold 10k because I needed the cash. I have over 2 million shares and options left. I intend to sell 40k more shares at some time to pay last year's IRS claims. Harvard was given the stock by Jack McConaughy. They make their own decisions. I don't know anything about S and F living trust. Personally I have no interest in knowing when people sell their shares. It is a personal investment decision, and I hope they make a profit. I have been focusing on Wave Systems as my primary activity for ten years. It is my choice to pursue the vision we have for Wave, but it has also had its consequences on my personal financial position, requiring me to sell shares from time to time. Talk to me about what if any of this you want to have appear on the chat lines. Basically the cup is 99.99% full not 0.01%empty. Cheers - Peter Kent Kappen wrote: > Hi- > Could you please respond to this investors Q's and cc me on the > explanation. > Thanks, > Kent