I agree.  A huge error.  And IMO, as I've posted before, THIS may be the reason for JT's departure.  That is, THIS, plus the rather weak buybacks that were done (after the warrants were repurchased).  Buying back those warrants was a great move by JT, but why did he stop there, when the situation was so friggin' obvious? 

You either believe in the value of the company's assets, or you don't.  As Pres/CEO, it seems one would be compelled to believe.  The lack of confidence, and the failure to recognize a golden opportunity, IMO was more than adequate justification to show him the door.

Not to mention how positive it would have been if JT could have repurchased all of S&L's shares.  But now, on the cusp of a probable great 10Q, we still have that spectre hanging over our heads.  Sorry, but I'm still PO'd about it.....

JMHOs,

SGE