Ann: Appendix 4C - quarterly, page-73

Normally you would think so, but given how quickly this has unwound there is a good chance that the investors will want their money back.

There is a bigger issue here going forward which is GSW management has managed to trash their reputation. What large organisation is going to want to enter into a long term relationship with GSW now? N A Williams can be out pushing GSW to their clients, but it is going to be an up hill battle no matter how good the product.

I hope for Joel’s sake he kept back some of the old liquor run stock as he is going to need it.