We are all positive now :), page-45

More accuratly

1. Management hasn't said anything about this quarter, which generally means bad. If they thought it was going to be good we would have been told.

2. There never was a suggestion of channel stuffing, just a statement from me that I would not be surprised if there had been. We will know soon enough either way.

3. The 5% is more important. If I know I will get 5% of the company I will want the SP to be as low as possible when I get it. In the USA a grant of stock like this comes with tax implication and the lower the SP the less tax you have to pay. Basically getting the shares generates a US tax liability equal to the value of the shares that you have to pay in that year, while any capital gain can be delayed until you sell. While the new CEO hopefully will do the right thing by the current shareholder, the contract he has signed certainly does not encourage him to do so.