borrowings, page-18

Moremoney,

I replied to Gindaldan's post before reading yours because he replied to mine first, and I didn't see yours until after I pushed the post message button. As for not understanding math, let me assure you that I know enough about maths and Forex that could open a very good debate for the forum. If you want to talk about Geo's stuff, I am lost and I am the first to admit that, but as far as figure goes....Hence why I can't believe that these "so called Directors" of our Company, which in most cases are professional men with some sort of Accounting Degree behind them, could be so stupid to complete and lock us in, in such a deal. That is totally beyond beliefs.

As for the drawdown of the money as it is/was needed, there is a part in that reply of mine to Gindaldan that handle that particular situation. IMHO, the only way that that could have happened would have been by them locking in a Forex Exchange rate without doing any hedgings against the possibilities of the FOREX fluctuations. A BIG PUNT WITH SHAREHOLDER's FUNDS !!

One more thing. How is the Company going to repay that debt? And are the Chinese just as liable as us with their percentage ownership of GBG ? And if they are, is the total amount of approx. $200million dollars to be shared between them and us, or their proportion is on top of ours.

If I had the time I should get in touch with the Company myself and ask the hard question.

Thanks.