I agree completely that the higher the PPS the cheaper an acquisition would be if the financing is equity based. We'd all like to see a higher PPS except the losers who bought high and sold low, but that's an old story that is found in every stock.
As for the 2004 earnings we forget the KCA deal that diluted the EPS, but added considerable value to the company. I think we are seing some of the return from KCA in the Q1 figures and I expect that a large percentage of the revenue will be US generated from now on and we will see the audited figures on this when the 05 audit is done.
There is no definate acquisition yet although it seems this is where Matin is headed. If the acquisition is based in the U.S. or Canada it will be a very positive thing for all shareholders because revenue from this source will be available for examination by the US auditor and not subject to the very protectionist rules and regulations of a 3rd world country.
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