RE:With regard to PNE acquisitions...The quote is consistent with what Phil has always said to me in the past. He thinks like a shareholder and will only make investments that will be a creative to the company… He saying that he will only make an acquisition if it adds to the cash flow increases the value of the company on a per share basis and allows him to increase the dividend. His goal is to return the capital to the shareholder… He is an ethical and honourable person… He is doing what is best for the shareholder. It's a great company to own