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I'm buying here.

The company is valued at $70M minus the $44.5M LMRA stake.

I dunno about the election. I dunno about Q3 results.

I dunno about the price of oil. I dunno about Iraq.

But I know that owning the rights to scanned beam display technology is worth a lot more than $70M.

It could be Canon. It could be BMW or VW/Audi. It could be success selling Nomads to the military, or success selling Nomads to car dealerships. It could be the gradually increasing Flic sales really start to get rolling. It could be the 2D bar code scanner. There are a lot of irons in the fire.

Most folks in the investment community haven't seen the MicroHUD. It is awesome.

Most folks in the investment community haven't tried on a Nomad. The experience of see-through information superimposed on your field of view is hard to describe but easy to appreciate. The purity of the color is unlike any other display you've ever seen.

Most folks in the investment community haven't seen the company's Electronic View Finder/Microdisplay developed under contract to Canon. Its rich color depth and lack of pixelization makes the LCD screens on the back of your digital camera and on your cell phone look like the horse-drawn carriages of low-resolution pixelated technology that they are.

I am not here to make a 20% profit and flip it. I am here because scanned beam displays will make LCD screens and cathode ray tubes obsolete.

I have a big position for a regular guy. But it keeps getting bigger. Because I have seen these products for myself and it's incontrovertible: with a $44.5M asset on the books, and the first commercially viable display products in their history beginning to get shipped to customers, products in late-stage development for deep-pocketed customers, the company is in the best shape they've ever been in.

The stock price can be attributed to a lack of faith in the future of technology and American innovation. A lack of imagination about the way things inevitably change. A lack of appreciation for the way information will always follow the path of human activity. The need for certainty. The unwillingness to make an intuitive leap. The glorification of the past-tense and the ignorance of what will be.

But I will never bet against the USA. I will never bet against the power of making information available in places it couldn't go before. The government said it best in their requisition for 250 Nomads: "[Nomad] is the only day/night see-through heads-up display commercially available".

Right now the market doesn't value that very much.

I think they'll wake up and smell the coffee soon.


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