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Hi Chuck,

The IDC deal was to new and existing holders, so you could be right.

I think the link I was trying to make was that there are investors out there who are willing to pay a premium. I don't think holders here are concerned with us getting such a large premium, but a price that reflected close to recent trading prices would've been a good start. I know I would've participated in a CR at around 3c.

I agree that most CRs are done at a minimal discount, but what makes this an odd situation is that the CR has been done within 15% of 3yr low of the SP (correct me if Im wrong) for large amounts of $$$ that were not originally required at this point in time... to completely change the direction of the company.

Darren has either the negotiation skills of a complete moron, or he is dodgy. I hate to say it, its one or the other the way I see it.

BM - I couldn't agree more if I tried.

Cheers Uttsy