You loved CTEL...u mean u loved what Ricky had done for CTEL and its stock price back then. At least investors have lower expectation now and HKTV is selling - really - not that much lower than last week. As at this writing, 1137 is selling equivalent to $5.45 of HKTV. According to Ricky, HKTV has HK$2,000,000,000 or US$259,740,259 cash for working capital (with no debt). That translates into HK$2.47 a share or ADR US$6.41 not counting the US$116 million HKTV spent on production and capital assets. Going forward, HKTV will continue to concentrate on creative assets including television and movies. The media center project in Tseung Kwan O continues. The free TV license would have been easy gold in the bucket as what it had done for HK:8 and HK:1097 but its not the end of the world for Ricky. If anyone can think out of the box, Ricky is the man.