Not only is the market driving down valuations of potential targets, but the credit markets are locked up and bank, hedge fund, and private equity sources of funds have dried up. Not a great environment for doing deals, UNLESS you have millions and can self-finance most or all of a M&A, or strategic minority investments in promising companies (a la Holocom).

PTSC still needs to be very careful and prudent to find the right fit(s), but I believe the stars are lining up very nicely.