Nothing wrong with a good debate, Dennis, as long as we keep it clean.

We won't rehash the FWR thing, as it is history, but consider that if NOT had succeeded, and then proceeded on to absorb these other players. It would have been a simple matter, as the market would have responded with much better enthusiasm and a corresponding SP, like maybe 10-15 dollars/share.

If we were to make a run at SPQ/KWG when our SP was at 15.00, and we offered them .50/share, everyone would have been happy. But to do so now, we know we would have to offer them a minimum of .25 to have any chance at success and it would have to be in NOT stock. Between them there are 1.5 bill shares (counting warrants), which translates into a cost of 375 mill. 375 mill of NOT stock today amounts to 300 mill shares of NOT. THis would mean we would have 475 mill shares outstanding. To take it one step further, we would be saying that their 53% of big Daddy is worth more than one and a half times what we presently own. I don't think so.

My figures could be a bit off, as I used my trusty slide rule from my top desk drawer. I just don't have a lot of faith in these new thingies.

Best regards

K