I think RG has mentioned in the past that any M&A will not occur till the end of this year...maybe even if then. IMO with 27MM in the bank and maybe some more with the Feb licensees numbers included (less exp. and buyback monies spent), we need a lot more cash to do any M&A that will generate revenue to effect our bottomline immediately.
He does mention the option of "borrowing" in the future to expedite some M&A activity though. Also IMO that doesn't worry me ...IF...the resulting M&A is immediatly positive to our bottomline. If it is a M&A that is costly to us for some time but shows great revenue growth that is fine also...that's when alot of us and lot of those who analyse this stockw will start to put their investigtive hats on to try and show a future picture for the company that should show some positive effect onthe PPS.
So I don't expect to see anything specific about M&A for a while yet...I'll take it though if it happens...but IMO we should be expecting it more towards yearend.
JMHO