scott sutherland is an analyst at wedbush securities. wedbush snls, , and scott, is it going to get worse at research in motion? >> obviously, as i have said in research, we think as long as they go with the integrated strategy, rimm could go the way of palm. this is faster than we i want add. >> tom: meaning the handset makeer and operator system. are you advocating a split? >> i think the best way to make value is to make tough decisions like nokia did and join a system broader and more powerful. they're just a phone manufacturer with an operateding system, and an e-mail system with no other device getting traction. >> tom: speaking of devices, the blackberry 10 is coming out this summer. what's at stake if they continue with the current business model? >> i think the xos and the blackberry 10 is going to be a solid smart phone device, but it's more about the eco-system devices. the cloud system and management system. if you download a game or song, and share across a multitude of devices. and rimm doesn't have that eco-system. they mig

james mormon is equity analyst at iq, and on the phone, scott sutherland, managing director with web th of you. >> good morning. >> scott, let me start with you, around the $10 levels, that reflects the full value of all their patents. downside from here, is it too risky to shoort it at these levels? >> i think at these levels, if you look at rim and their strategy, we think there could be more downside with the stockment and we also remind investors part of the patents are the ones they acquired from nortel are shared, so it could be harder to monotize those patents than their own. there's some value, but we think it is more than the $78 level to find a floor if things continue in this direction. >> james, the conversation today, assuming jpmorgan, not everybody gets to the at the table, is it about selling to somebody else? is it about breaking it up into piecemeal pieces? is it about just shrinking yourself into a much smaller player? >> right. i think of the conversation centering more around strategically licensing or other parts of the blackberry flat platform. i don't see them