Intangible value is very hard to put a price on, so these figures (which makes up about 40% of all of their assets) is just "fluff" to me. Intangible assets that hold real value (again, hard to place a dollar figure on) are: patents, copyrights, trademarks, and the such (which they list none of). But what is their "Wholesale Customer Relationships" valued at $2.3M really worth? If they needed to liquidate quickly, could they really sell that for $2.3M? What exactly is "Wholesale Customer Relationships"? And why is it worth $2.3M? Too vague. Oh, but on flip side of the coin ... their liabilities went from $13.4M to $14.5M!! Didn't they pay off a bunch of liabilities?? Where is that? Perhaps this is another reason the stock is dying.