What's fair value?, page-7

Agreed, but I don't think we will be seeing dividends any time soon.

I think VMT will maintain their cashed-up position until they are confident they have more cash than they can use. This is prudent for a growing tech company in a competitive market. It gives them the ability absorb any unforeseen shocks and to be nimble if opportunities present themselves.

I remember Bill Gates declaring many years ago (some time in the early 90s I think it was) that they had finally gotten to the point at Microsoft, where they had enough cash in the bank to operate without any revenue for a whole year.

I'm looking forward to the annual report. Hopefully that will get people's attention.