Alan,

My mind is not nearly as focused as it was yesterday, but I'll take a crack at a summary...

MY (HEAVY) ASSUMPTIONS REGARDING MY OWNERSHIP STAKE IN SOFO AND SOFO’S TOP MANAGEMENT TEAM:

1. SOFO’s TMT is NOT multiple levels above the average shareholder with regard to disposable income and are more "like us" than most here realize. This means they are less able to “increase their positions to instill confidence” than many investors believe.

2. SOFO’s TMT is NOT out to get SOFO shareholders (as some within mgmt are among the biggest shareholders). If they were, indeed, trying to “stick it to the man” they would be sticking it to themselves…greatly.

3. SOFO’s TMT knows full-well they've got the absolute best product out there but struggle to fully monetize this opportunity. This resulted in the floundering that was adding way too many sales staff at one point in time only to cut the sales force shortly thereafter (time and money wasted on recruiting, training, firing, etc.).

4. SOFO’s TMT realizes their marketing and sales forces are still a bit of an Achilles’ heel. With that said, however, they realize you don’t push academics (in particular) into a sale. As such, a protracted deliberation/acquisition period is the nature of the beast.

5. SOFO’s TMT knows time is of the essence because no window of opportunity remains open forever. They know they must stay focused on pitching and closing deals (deals that include ongoing revenue streams, by the way).

6. SOFO’s TMT believes the pitch-and-close cycle will become greatly compressed when once critical mass is reached within their market. While they have a handle on how to pitch educational institutions and business entities, it would seem they do not understand why the growing cadre of top-notch schools and businesses within the MediaSite ranks has not brought them to a “tipping point” with regard to closing deals.

7. Because time is of the essence and critical mass has not yet been reached, the pitch-close cycle is still taking longer than expected. This means SOFO must NOT be distracted by time-consuming endeavors, such as being delisted by NASDAQ (strong impetus for RS). Delisting would only force SOFO’s TMT to rely even more heavily upon their marketing and sales departments…see #4 above.

8. SOFO’s TMT believes (or has been told) that certain fund managers would like to include SOFO in their portfolios but are unable to do so based upon the current share price (further impetus for RS).

O.K. This is nothing like what I wrote up yesterday. I'm not nearly as happy with it and there is a whole lot more speculation manifest in my comments than yesterday (which I do not like at all). But I am willing to stick my foolish neck out for the possible benefit of others.

I am not a cheerleader. I do not believe in "believing in management to do what is right no matter what." Even us eternal optimist's know this ain't no perfect world...

Sorry this will probably be disappointing, Alan (and others), but it's the best my tired (and still slightly frustrated) mind can muster at this point in time.

Better thoughts another day, perhaps...
NattyB

P.S. Not going to take time to second-guess, nor edit, what I have written above. Will probably disagree with myself at some point when I later take the time to read this, but that's O.K....right? ;-)