Nice. I would say at least it warrants the conversation with your Bud. Open the door a little, it is already slightly ajar :-) But he has to walk through it. Ask him why he bought it. Does he get the concept? and take it from there (I like the defense reference also) . As you well know it is about the true ownership of the asset, not sure he does. As of now, he holds the promise and that is not an asset. Help him get the difference. Good luck and don't lose a friend in the process or do if he is annoying...lol