Sedley,

We currently have 18M+ shares in the treasury at an average purchase price of 63 cents not 13M. Still I would rather accumulate cash for an acquisition rather than issuing stock at these levels. Think about it... those shares purchased at 63 cents now have a purchasing power of 45 cents. I'm just saying I don't think its in the best interest of the company to use those shares at these prices because the dilution would be too large.

IMO The company is taking the rights steps in reversing past dilution (buying back 18M shares and 7M warrants effectively taking 25M shares out of the float) and I'd hate to see them blow it by reissuing the shares. I know everyone might think that 25M is a drop in the bucket but it IS 6%. I think now is a great time for the company to continue the buyback and maybe even be a bit more aggressive than usual to take advantage of the depressed prices.