I spoke to Dan about the particular area given to CNB recently. He was of the opinion that it was unfair given that HMX'S shareholders were disadvantaged and it is his responsibility to protect the asset value of the company. I think if CNB has benefited from the transfer then HMX should be compensated for their loss. The longer this drags on, this will affect CNB more than it would be on HMX. It is better for CNB to negotiate with HMX to settle the matter then to have it unresolved.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-35
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