Mr. P,
What constitutes a good multiple in your opinion? For me, it's one that gets me to my investment goal. Multiples are often based as much on the irrational as the rational. When I look at other pinks trading much higher on little more than an idea and a promise and I compare that to PBLS, I have to agree with many on this board that we are seriously under-valued. When I look at how investors might view PBLS if / when the audited financials come out, especially those investors who may be looking to get out of construction and home related stocks due to expectations of a national downturn in that market, some of those may look to make a more regional based play. Certainly a lot of irrational buying based in part on expectations of just that sort drove us up to .12 cents post Katrina, and there's no reason that won't happen again, or that a more measured increase and a proprotionately more legitimate one occur again based on the same idea - especially now that the federal government has ear-marked the money for the Gulf Coast. PBLS needs to demonstrate they are getting some of the action to help that along or, as the recent PRs have shown, show that they are positioning themselves well to take advanatage of their strengths in those markets.
