Ann: Horizon and Greenstone Merger Presentation, page-46

Good luck with that wish! I must go back and interrogate what the hurdles were for issuing performance share to Hansen and co. See if they have actually been met. And here is another one to consider - the original JV between FMR and Greenstone was for the FIRST $8M of revenue to be utilised by GSR for exploration and drillingpurposes etc. Somewhere along the line and without so much as a kiss my arse announcement or explanation, the deal very quietly changed to a 50/50 profit split. Both companies sharing a common director - one who was chairman of FMR at the time if I'm not mistaken and I believe still is. I am not sure if this fits the description of 'royally screwed' or whether it is 'just business' to change a JV agreement because one party is losing a bucket and making the chairman look bad. The conflict of interest in this instance is again 'glaringly stark.'