Having a lot of cash in the bank is nice, but the question is...

Having a lot of cash in the bank is nice, but the question is what will the management do with it.

If they will just sit on it for the next few years, pay themselves salaries etc. and slowly but surely diminish the funds, then the current price is probably right. Over the years the management hasn't really shown great initiative.

I have been a holder for quite a few years now, and as much as I would love to sell the shares and move on, it does seem inappropriate to the shares at 50% discount to cash. But am I thinking of buying more? I don't think so. Not until they have some sort of plan. Any plan at all.