My comment to you was much like your analysis - quick and off the cuff. However, I don't want the board to think they need to build up some huge nest egg. Again for what? I think this is what Ron was trying to ask them. How will you handle a positive, successful future?

If they want to buy back more shares because they believe the share price will move upward slowly and steadily; because licensing will do the same, that is fine with me. If the price jumps significantly though, I would prefer an increased divy and less off a pile of money for them, to some how _iss away.