General Comments, page-128

I think I've made the comment before that I fully expect Norwood to cease to exist at some point in the short term. Probably in the next year.

Norwood is a company I've researched a lot and understand quite intimately, I've invested in it from time to time, made money and lost money.

Like you I'm fascinated at how it has value and how others see value in it. I'm fascinated at how it's going to end. Will it go in to VA, will it get taken over and by whom, will it get broken up and bits sold off? Who will get the tax losses, who will get the WV tech? What will PO do after another failure?

I consider it a real opportunity to discover why there are buyers at 2-2.8c currently. By learning how it ends and what parts go where and what ultimate value they have, I will get answers eventually. Most interestingly will be what final distribution do current shareholders get? Is the current market cap the break up value? Or is the current market cap a speculative bet on a miracle survival?