This extraordinary expense to explore strategic alternatives suggests that the Company is in play. The size of the expense relative to the Company's operating business is extraordinary and is a disclosure issue, stating that the Company May be in play. When I say "may," I'm not parsing legal terms, but suggesting that they are in play. However, the process of this complex type of REIT Company would naturally involve a long, drawn out process. I would guess that they will be taken out before year end. Volume has increased. This is not the type of stock one would expect to see such an increase in volume. Management has been doing this work for over 30 years and anyone in this situation would be tired by now. They have good loans on their book so I wouldn't expect any significant discount to book value. One can collect a hefty dividend while you wait (although it will go ex-div next week). The question in my mind is if management will get a significant severance payment on their departure. There's only one class of stock and the debt on their slightly leveraged balance sheet is conventional (no preferred). I wouldn't expect any severance to amount to ore than 50 cents a share collectively. The Company also has some enterprise value due to the barrier of entry into this field and relationships with the SBA. That's why I think this obscure and rarely followed Company has a chance of being taken out at current book value ~ $14/share.