Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-63

Hannay,
You would want to get the views of other shareholders (especially any of those who have tried [without much reward from what little I know] to work directly with management to sort this out without bloodshed) as to exactly what was said or offered...
I'm not saying that this didn't happen but it may be only one interpretation (apologies to intheknow1234 if he was actually one of those in the room with TC for those discussions) but I simply don't know
Of course I wouldn't be surprised at all if it were all true (and more)

sasa