IWG had ~$924,000 in cash on its balance sheet at the end of the fiscal year. Given the first quarter is 2/3s over it could now have over $1 million cash, and an unused $500,000 debt facility. This robust balance sheet, and perhaps $2 million in EBITDA for the next 12 months assuming minimal growth should support strong investment and an acquisition. This company appears well positioned for growth, in addition to the new contracts announced in October(Bombardier, Embraer, Airbus). Given the record, and strong growth of 36% reported last fiscal year, and the success of the acquisition, the market should be willing to pay a growth premium. The deal to suppoy for the Bombardier jet also results in a new more compact product that will expand IWG's product line. This is a world class company doing world class things and has long dominated its niche. The opportunity to sell to commercial airlines appears brewing just below the surface though it will take more time the MD&A says. That oculd be a huge breakthough for this company.