HOGAN: However, I believe it is naive to think that the big money isn't already in the process of conducting their own due diligence …

With due respect, I believe it is naive to think that they do. At least this is what Mike White explained to me, and he should have more insight into that subject than you and me retailers. In short, institutional investors will start to look at a company only when they generate revenues. Period. There may be exceptions, but they are just that: exceptions.