RE:Beacon: Net of cash PHM trades at 3.6 x EV/EBITDAThanks for sharing - I hadn't seen the Beacon analysis and comments. Adds a bit more insight than my own DD, however consistent with the significant undervaluation a number of us are aware of. After trading in the 13 - 15 cent range for so long, it's not surprising the sp is taking some time to adjust to its peers. Also takes a number of quarters for bigger investment fund managers to be comfortable with putting dollars into a VSE traded company. More and more fund managers are taking note of PHM and over time, the sp should move much higher (over the next year and beyond). .... and that is why I purchased another 190,000 this past week :)