respectfully disagree. DP did say that 10% + of future revenue would go to buybacks and in addition he did say that there would be future dividends. However, although as I said I will never turn down a dividend I am more interested in reducing the float, in real terms. Your analysis of a long term shareholder is someone that holds for a matter of weeks or months (?) sure puts me into an ancient status. However based upon your statement if these ``longs`` that you talk about are only going to hold for a few weeks or months then how does that reduce the float?

In addition to buybacks I am very interested and hopeful that mgmt and the board is thinking about the future of the company. Also earnings per share always count, more for some companies then others but it still counts. Based on that if we maintain the licensing pace with buybacks share price will increase.

Of course this is just my opinion.

marc