RE:RE:RE:0.20 again!I agree with you, I don't think there is any lower risk opportunity out there now like buying EUO here below the cash and the DCF of the SICPA earn outs. I think it languishes because people fail to see the upside, I have had a few friends and rational value investors dismiss the upside potential here based on past performance of GFI and lack of clarity on: 1.) the potential for the GFI earn outs to exceed the guaranteed minimums, 2.) the amount of cash needed to bring XwinSys to market, 3.) EUO's intentions for a new acquisition with the cash and weather it will be a cash flow possitive business or require much investment. I kind of understand where they are coming from, but I find confidence in regard to these issues for the following reasons: 1.) Given the likely relationship between SICPA and the Swiss brokerages accumulating EUO, I feel quite confident they represent the "smart money", and their actions are clear. I imagine it has to do with the prospects of the EU tender, or other big opportunities which Bruce had previously described as "low hanging fruit". 2.) We know the company is in the late stages of development of the XwinSys automated inspection system, that it has been developed in cooperation two of the three largest semiconductor companies in the world, and we know from the Robert McWirther interview that the company is seeking a similar type of license and/or sale agreement with an established industry partner (as was done with SICPA), which will reduce their total potential earnings, but could prove to be a less is more kind of scenario with an established partner giving their system more broad and immediate industry presence. 3.) Bruce is on the record saying he is seeking complimentary businesses in the authentication/security markets that are cash flow possitive, or at least near the end of their development cycle with minimal capital required to get the product to market. Furthermore, he has expressed an interest in using equity as the currency for such a transaction, but also said he doesn't think he can reach reasonable terms with EUO's shares at their current valuation. I have built a heavily concentrated position here in my portfolio and sleep well at night with the impression that this is really just a matter of time before the upside becomes more apparent to other investors. I love these kind of companies, I have another highly concentrated position in COV, a company with a similar business model of developing and licensing medical technologies to major market players, which I believe has more upside potential because it has more technologies in its pipeline and portfolio, but doesn't have the element of safety of EUO has trading below its cash value. I can't wait to here the results of EU fuel market qualification testing.....I feel fairly confident GFI offers the ideal solution to this problem.....not everyone needs to see the marker, just the autorities.