eliot, A penny wouldn’t excite me much – I take it if that was all the dog could muster. I am thinking along the lines of a dime ++ based on my assumption that the company is somewhere in the 30K subscriber range and by adding the implied contract, well let’s say 60K subscribers within a couple of month (or immediately) this would add up to 12M annual revenue to start with. Add a bit of future monthly increases, and a dime should not only be a spike, it should hold.
Now this is only my humble opinion.