traded 343 shares so far today. Even if this is the bottom, there is no reason for the stock to trade actively since the hand writing is on the wall and there is no reason for anyone to get exciting.
As to the tangible book value increase, there are tons of small caps with no debt that are trading at a substantial discount that look a lot better then COBR.
I have always said that COBR's business model should be to sell generic discount electroncs (cb radios, 2 way radios and radar detectors). They could made a little money at no risk. Instead, although undercapitalized, they decided to start "innovating" to compete with the behemoths but have been totally unsuccessful. COBR lacks the capacity to go head to head and all they have accomplished is to increase their debt and lose credibility. Thinking that you can compete borders on dellusional.
Think about it, if Bazet really had faith in the future of the company he could have proceeded with an LBO. Instead, he takes no risk, and reaps in yearly stock grants and a hefty salary. He is probably reading this email thinking to himself "the guy is 100% spot on- I am the smart one and he is the fool stupid enough to pay good money for the stock".