cer, page-27

Blastoff,

Implied risk and actual risk are different. Like implied volatility and actual volatility. I have studied statistics extensively.

CER does not have a functioning cost structure, and so I respectfully disagree that while CER can in theory survive without CNP....it never would.

For the sake of debate, if CNP went bust and CER survived, CER's profitability would drop significantly....they have very little or no direct staffing costs....Is this not true? And they have very little staffing costs by virtue of the fact that this function is performed by CNP in totality....Again a problem that I grapple with in terms of reconciling CER as a good investment. How would CER ever become independent from CNP on this basis? It wouldn't and hence my comment that this company line is a straight out lie.

I hold CER and stand by my investment decision.

I have said repeatedly that CNP and CER either both survive or they both go belly up. Again, this point has been disagreed with by some red hearts and that's fine.