Tex, I agree with the majority of your post.
Here's what I'm driving it... posters here saying 'The O/S is only 197M' are being accurate, but behind the scenes, we're really pushing ~240M O/S.
Big difference.
Between that and the pending A/S increase, one of the bigger selling points, the low share structure, is losing its luster (IMO).
Revs and growth still good, but I'm of the opinion that 'upside' here is lower than it was 9 months ago. And the risk is directly and proportionally higher.
And, without saying, it drives home the need to communicate to shareholders the 'big picture' and drop info on ongoing operations.
TM
Market Data 
Markets 
AI
