Do you really think XD is not competition for IMAX? Cinemark is suing IMAX already over trying to stifle competition I assume. And on top of that Cinemark is rolling out XD like gangbusters. See the Cinemark website for the 14 locations that have it or will have it shortly. I assume there are many more on the way. IMAX's model as a middle man is toast. This stock is trading far above its true value and it will eventually revert to its true value and sooner than one might think now that there is competition that will force the issue. I see $6-7 based on a DCF model that allows for reduced penetration going forward due to XD and its success which will encourage others to do the same thing (create their own IMAX if you will).