I guess the market is losing patience on this one with endless...

I guess the market is losing patience on this one with endless uncertainty overhang from Telstra. It seems we are heading for further margin reduction only this time without the backing of more Telstra stores. It's all wishful thinking now but let's hope management can maintain FCF p.a of atleast $30-35M and not do anything stupid with it although more likely they will. At these price levels I'd rather see management forget about external growth etc. SQD and and instead focus on their existing retail network and relationship with Telstra while providing returns to shareholders via buybacks and dividends. Not an ideal position for us shareholders to be in but 8-10% yield does not seem all that bad.