Next shell for acquisition, page-16

Agreed.
The big question is, is she a buyer or seller?
Typically high-cash shells are buyers but at $4m it could go either way. Although I suspect, and hope, it's at a reasonable level to be a seller. Seller is obviously preferable given that's where the big runs happen.
As you point out no consol required and with the free float at only ~50m shares, with the right acqua, this baby could run hard.

Quite happy to have gotten my fill at 3c