We do not like the accounting issues, of course, but we still have faith in general. The underlying businesses remain strong and growing. Valuation is attractive even if one considers its recent transgressions. Management is committed and owns a nice chunk of the company. Good growth is still expected over the next two years. We think its recent corporate moves make sense, and a split of the company could bring out value. Short term, the stock likely stays in the penalty box and does a whole lot of nothing for four months or so. We think it works 10% to 15% higher over a year, barring a complete market meltdown and no more 'issues'. We agree that another problem would likely see many holders throw in the towel. It is not uncommon for a growing small company making acquisitions to run into some problems along the way. But as it plans to continue with M&A, it is certainly something that needs cleaning up if it is to get an improved valuation multiple over time.
5i Research Answer: