I like your "arm" scenario. Seems as therre are many of them floating around and this is as good or better than most. Do you think that all parties came to this agreement during mediation and then signed agreements after all details were worked out (just before trial)? Do you think that ARMHY changed their symbol to ARMH in order to make the transition smoother? Something that occurred to me (this came through reading qcduck's posts if I remember correctly) is part of the deal was that the J's buy up PTSC's stock. It does look like this has been held in a tight trading range foreverrrrr now. JW could have told PTSC and TPL NOT to purchase our own shares before the Q as that may have caused a run--which would explain the announced restriction on BoD buying. It would be interresting to go back and talley the # of shares that traded in the high .30s since the settlement. If your scenario is right, I wonder how the merger would take place? You could be right--GL, ads