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WAVX > SEC Filings for WAVX > Form 8-K on 1-Dec-2008All Recent SEC Filings

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Form 8-K for WAVE SYSTEMS CORP

1-Dec-2008

Other Events, Financial Statements and Exhibits


Item 8.01. Other Events.

On December 1, 2008, Wave Systems Corp. ("Wave") announced that Wavexpress, Inc., a majority-owned subsidiary of Wave ("Wavexpress"), has suspended its TVTonic consumer media service and is exploring opportunities to sell or license its technology to third parties that may provide "download and play" services.

Wave estimates that these measures will reduce consolidated operating costs by approximately $800,000 per quarter. A small staff will remain in place at Wavexpress in order to support efforts to license or sell the Wavexpress technology to third parties.

On December 1, 2008, Wave issued a press release announcing the suspension. A copy of this press release has been filed with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 99.1 Press Release of Wave, dated December 1, 2008.

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