The revenue picture is too small and the O/S needs to be corrected before a Dividend of any sort is discussed. Buyback is very plausible because it is implemented over a set time at the companies discretion. It makes since to reduce the O/S now at these levels while cheap while simultaneously improving investor value. If a buyback were implemented all the R/S talk becomes a mute point. Without it investors will always be trying to time when is it in their best interest to unload shares from what they perceive will eventually happen to correct the high O/S. An R/S looming doesn't help the company. http://dividendmoney.com/stock-buybacks-who-benefits-the-most/