The gist of my conversation with the CFO, Tony Long was:
1. He confirmed their 4th qtr assertions.
2. They had some idea that their 3rd qtr was trending down at the time of their Aug conference call but had no idea that it would wind up as poor as it did at that time. They did advise in the conference call that organic growth was lower.
3. He agreed that they needed a higher degree of diligence in their assessment of committed projects with respect to potential funding issues and that they have addressed it.
4. Qtr 4 will be a normalized qtr - i.e. not a normal qtr plus delays from the 3rd qtr - and that is how the operations should be viewed going forward (obviously subject to the unexpected)
I purchased a 1/2 position today at $6.25.