It also appears (reading between the lines of what was said on the ZSTN call) that the company did not buy back any shares during the quarter. They indicated that they still intend to follow through with the $1MM share buyback, but are looking at other opportunities as well, esp in the GPS space.
They were named as a "preferred GPS supplier" in Henan province during the quarter, which has the potential to open up materially significant future business opportunities for the company next year, if contracts are won. They would not comment on the potential size of these awards, but if they are fairly big, they might need a lot of that cash to fund their working capital needs.
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