While I agree with much of what you're saying, I believe that none of us would be happy with $1 on a permanent basis, I really don't believe we'll be significantly below $1 once we've filed with the UK, but it will take some further action from the company. I believe that once they have acceptance from the UK they'll schedule the Annual Meeting, and I believe that will be a substantial positive as it will be the first real update since the last Annual Meeting. I know we've had quarterlies, but they've provided almost no long term guidance.
I'm not a strong believer in penalty provisions as I've seen how contractors find ways of adding costs and delay, and in the end you almost always pay more. I also knew Govt. buyers who'd drive prices well below what estimators said something could be built for, everyone knew what they were doing, but they'd bid well below their costs, then change orders would bring the overall cost way above what the estimates were. I believe that if you have knowledgeable estimators, any submission that's more than 10% below that estimate should be thrown out to avoid low ball estimates that clearly can't be delivered. Change orders are the mothers milk of contracts, often even asking the contractor to do less results in higher, not lower costs.
There was an old Mark's Brothers routine, as I remember it, where you paid $XXX for their band to play at your event. You paid more if they were paid to practice, but not to play, and if you paid them not to either play or practice you couldn't possibly afford it. Some contractors try to operate in that way.
Gary
