A couple of points to consider on the SIB. A couple of points to consider on the SIB.
1) The prefs are at $25 in the balance sheet so if they fill the SIB they would record a $4-5m gain or 5-6 cents a share equity increase…When you trade at $1 per share and have a "nav" at $2.7 that is not a nothing
2) Prefs are expensive and this would save $2.3m a year, on a $20m investment is a guaranteed 11% return. Not to mention pref interest isn't tax deductable, but in theory we shouldn't be paying taxes anyways.
3) You don't pay down prefs when you feel things are going sideways this is a good indication that management feels ok about it's position. But they need to hurry with asset sales or you are just replacing no maturity debt for real debt which would be dumb.
4) The prefs are actually a great investment to diversify as well. i own both.
Hopefully some good news on TaurX soon