re: dog at 7.4c Merlin, that is a copout. A company, via good...

re: dog at 7.4c Merlin, that is a copout. A company, via good investor relations can maintain a good shareprice. The PEO directors grew the company at the expense of the shareprice. Why? Well I believe because they did not need the shareprice to grow, because their shares were in escrow, and any losses could be booked and carried foreward.

We both agree on the strategy of PEO growth, particularly investment in infrastructure. Why build what everyone else is? Buy bandwidth from the wholesalers. But more heed should have been taken of shareholders concerns about the slide in shareprice. The reference to IIN is in fact relevant. If the SP hadn't dived to the levels it is now, PEO could have bought a share in IIN at a considerable discount. raising the dollars, other than via the market.

We both agree that the SP should be higher, but it is forthe reasons outlined above that it isn't.