Market over reacting to some pretty old news.

Again I believe the insiders are "locked up" due to their discussion of alternatives, so you have no one big enough to support this retail selling panic.

Based on my reading I take the positives:

1. 2004 10k has been filed - FINALLY. We've gone from nine quarters delinquent to five quarters delinquent. I'm sure we'll be fully up to date by August 15. Way to go Mr. new CFO, you inherited a lot of crap, but you're digging your way out.

2. Based on the Management discussion, it would appear that they are finally realizing that this is not a "fix it and run it" situation. That is huge in my opinion, because I don't want to stay around while they try to run it.

3. Best alternative is to sell the whole company, and if the auction is held properly we should get bids from $2 to $4. The current stock price doesn't help, but we're not going to let anyone STEAL this thing!!!! - it's worth at least $80 million (HIG alone....)

Imo the next announcement will be the sale of the Company or HIG. I can wait....we've hit bottom, only up from here!

MM1