income from operations was up 25% for the quarter- the flatness had to do with higher interest expense this quarter probably based on warrant formula on the mezz debt. the company doing dramatically better but the key is they need refinance with their debt to get a lower rate. if the keep doing well year over year you are hopefully they should be able to do it which could add dramatically to earning in the future because of lower interest cost.
They need a definative agreement first then it will trade better because the ARBS will come in for the spread. If they get agreement stock will trade 62-64$ range- If you get it from other one's it should happen 4-6 months after original deal so your talking I think oct-Nov timeframe. After that its another 2-3 months to close it.