Ann: Resignation of Directors, page-22

BKN definitely should have done an secondary offering and raised another $50m or so, but they can't do one at $0.50-0.60 (they can but they would be idiots), should have been done at $1.50-2.00+

re: NRW Holdings (NWH), not quite true. Their order book and confirmed contracts is pretty good all things considered. They are continuing to tender for government/civil contracts to broaden while cutting costs. NWH, like BKN in my opinion, is being priced by the market for eventual bankruptcy. We are a long long way from there.