re: merger maybe it would make cents that a possible t/o or merger is in play - reasons
1. no div payment - has more cash in bank, makes sen look attractive to a suitor
2. no share buy-back, reason as above
3. delay in royalty payments - could be a future injection of funds to a possible buyer
4. diversification of "wholesalers" and
5. lower sp makes sen a lot more attractive and vulnerable.
