Dudes! can`t you see that the buy-back scenario is a catch-22? They don`t have the cash on hand to do any serious buy-back right now - the money went for divys and OH/cushion. Look at the latest financials! When they announce the next licensee(s), that will be before (most likely) they actually receive the funds. So the PPS will spike. Then, shortly thereafter, they may announce another divy, causing another spike (after the initial pullback). So no matter how you cut it, they`ll most likely pay more than present-day PPS on the buy-back. However, please note that in announcing the buy-back plan, they specifically say ``utilize 10 percent or more of future licensing revenues to buy back corporate stock`` and ``subject to the Company determining at the time licensing revenue distributions are received that such action is prudent based upon market conditions and sound financial management considerations``.

So they say ``future`` and they say ``[when] such action is prudent based upon market conditions and sound financial management considerations``. By ``prudent``, they suggest that they`ll attempt to buy on dips/pull-backs, but certainly not at the highs, and probably in relatively small pieces so as not to price themselves out.

Sometimes I wonder if people actually take in/process anything they read in clearly understandable bold print, or are able to integrate that info with other influencing widely known info.

But, alas, I KNOW nuttin`!

SGE