Ann: Trading Halt, page-57

I've never seen a management team that doesn't spruik a story, but this idea they could flip the acerage so easily looks totally ludicrous in hindsight. Certainly the guys have stuffed up and people are very angry (looks like $27 mill has been dusted), but dishonest/ponzi scheme they most certainly are not, just take a look at the register , there are plenty of well known names & funds on that list and that includes Whiddon & Stein who have been around for a very long time in one form or other.

There is going to be a huge shortfall no question (I have no intention of taking up my rights either), but Whiddon & Burton are taking most of the short fall themselves right? Whiddon is investing $1 million of his own money here, Burton around $4 mill (failure of Whiddon & Stein to buy any stock as we headed lower was one of the many warning signs I did not listen to the last 6 months grrr, I assumed they were in negotiations to flip the asset and couldn't, jubb.) , Whiddon only ever buys super cheap, but at least he is buying now.

No one has made any money here (except the non-escrowed retail unlisted TSV/TMK guys who sold relentlessly for 6 months). Whiddon, Burton (escrowed TSV),Stein have not lost any money yet, but they haven't made any money either. Tribeca is the one that has been totally shafted , investing $8m at the highs (5.4 cents), this is a lot of money even for a fund like Tribeca, love to be a fly on the wall in their meetings with Stein, (I strongly doubt they will take up their rights, but hoping they do).