Sorry to keep correcting you (I'm not trying to pick on you!), but you keep saying things.... You say: "It would be stupid to buy back more than 10% when you need to preserve cash for future buyouts." Stock held by the company is as good as cash. They could either offer PTSC stock as part of a buy out, or leverage that stock to obtain the needed cash - no problem. In any case, if they feel the PPS is going up (and they should have pretty good visibility), there are very few, if any, better investments they could make (especially right now - and up till now since the program was announced). It also demonstrates their confidence, which will be well looked upon by the investment community (further bolstering the PPS). I personally hope they are buying every share they possibly can (within regulatory constraints), right up until the numbers come out. I hope they've spent every penney that's come, plus any money they can leverage based on the stock they already bought. Think of it this way, if they could buy 50M shares RIGHT NOW, and the stock goes up just 20 cents, there's another nearly $10M to them! Play with the numbers - the increase in value is rather amazing. And that's increased value to us as shareholders. And if the PPS went up a buck? See the giant silver lining around that cloud known as the delayed reporting? I don't KNOW if others have thought this through, but in the very near term, PTSC could be about to make more money/value through their recent stock buy back program than they made in the entire last fiscal year. So when we see the latest share count and how much has been bought back, consider that they probably bought back most at well under a buck. Then do the numbers based on the presumably increased PPS after the 10K and 10Q1. Nice little compounding effect, I believe. These things I'm pretty darned sure of! SGE