Today's Typical Seller: "Oh Cripes! I bought this thing because it was trading way under book value! Now I find out that its intangibles were overvalued?! Sell it all!"
Today's Typical Buyer: "All I care about is cash flow. Who cares about a non-cash loss?! Not me! I love the cash this company is generating. And I love the way they're paying down debt...because that means greater cash flow in the future!"
Today's Typical Neutral: "I love the cash. But the declining revenues? ...Not so much..."
IMO, this stock is a screaming buy in the $4.50/share range...but it's unlikely to get there. I'll buy half of what I consider a "full" position today, and put in an order to buy the other half down around $4.80 (maybe I'll get lucky!). Then I'm going to forget about it for three years, and sell it for $10/share in 2015. Good luck to all.