Here is the scenario that I think would benefit shareholders best.

They should offer to tender up to 10 million shares at $2. I would think they would have no trouble filling the offer.

This would give the stock price a boast. In addition, with the elimination of 16% of the outstanding shares it will help the eps. Based on the loan 2010 estimate of 0.16, it would now be modified to 0.19. Using a P/E mulitiple of 25, this stock would be fairly valued at $4.75.

I hope management gets it right.

It does not appear that the market is expecting much and almost gives me the feeling that a major holder has been unloading.