RE:Price to Book Value = 37.54 at the close of yesterday The book value of a software company is hard to calculate because all their assets are wriiten on the back of an envelope because it's a code, how do you value a code? It only has a value when somebody buys it. Their market is over 200 million people, so their market cap should be way more than $54 Mil., in the range of hundreds of millions at least. They could also be bought out by the likes of IBM or CSU because of their ties to the lucrative Saudi and Gulf states markets