It would seem to me that good stewardship of the business dictates you keep a tight fist on your pennies and spend in relation to the revenues. With so much in the pipeline it would be easy to loosen your grip saying "We will soon have all this money coming I! " but it seems wise to practice temperate management for this time being. That's hard on us longs who itch to see any sign of a climb. But in the long run the current path seems prudent. IMHO.