IMO, some of it is last minute, year-end selling, some of it is people who may have bought in around 10-12 and are taking some small profit because they were expecting more...ie: reexams... and more importantly a lot of the sellers know that in a few short weeks we are going to report probably a loss and that's two Q's in row that have fallen substantially...the "street" wants to see earnings and cash and more earnings...we're just not there yet... and it may take a few more Q's before we get there.
You can argue, more from the J's and over charge from the TPL lawyers and reexams etc etc etc.....all you want ...that's all wasted breath.... what the outside world is looking for is growth in the bottomline and some "guidance" on future growth...until that materializes we are going to be stuck in and around these low numbers....albeit with some short-lived spikes from news out of the PTO...unless we get some big signings with big $$$$ to sustain even the spike, and fairly quickly too.
The M&A program is starting out pretty well and when we start showing "repetitive" earnings from that our PPS will climb and sustain that rise.
JMHO