The rally that wasn't The market certainly didn't overreact to the Waterpan news today. Two things have to happen: 1. Waterpan makes a viable offer, 2. Management grudgingly acknowledges it as viable. It's pure gambling until those two conditions are met (especially with our management). Keep your powder dry. This could still evolve into a bidding war for the whole company or the components. Let's ditch the escrow accounts and the management bonuses when we get an offer.