TTQ has 50mil oustanding and about 62mil fully diluted. This fall many of the oustanding warrants will expire and coupled with the buy back program will drop the fully diluted number.

With the warrants expiring and the buyback program this gives management room to do a PP without further dilution. This is very good news...

Now the trick, of course, is to get the SP up to a reasonable level for a PP early in 2009.

m.z.