Another decent quarter. In my opinion, the correct way of looking at this is as follows. The company has said several times in recent years that as a mature company - which it is not now - it would have gross margins of at least 20%. Therefore, a simple measure of the value being created would be to take adjusted income from operations of $289,000 for the March quarter and add gross margin at 20% of revenue versus actual gross margin, or another $442,000. Annualized that would yield 15 cents per share. The reason this is appropriate is that this is how an acquirer would look at the business. A current stock price of 90 cents (6 times the 15 cents) is inexpensive.