M&A, possible, not probable but only in pieces. The company has no synergy or common goal, management structure or even ambition. You cannot be all things to all people. As a small company you must above all else have focus and they don't. The smartest thing Seth Hammot could do is to shut the doors and sell this mess in pieces. Cognitive could get sold to someone like SAIC, Ball Aerospace or maybe SRA. You might be able to get a few pennies for the stacking but the competition is fierce in that space and others are doing it better and cheaper today. The cybersecurity piece has no value, the are using COTS technology that is already in use by half a dozen other vendors who are larger, well funded and have 100+ development teams. They will never be able to compete in that space, yet that is where they are putting their money. It just goes to show you that due diligence and market assessments are not a part of ISC8 operations.