placement not to happen, page-4

Although it will probably get creamed in toronto over this at least they don't appear to need the money immediately. As of June $146M was cash and equivalents. I'd have to go back and figure out how much of that is committed to Kinsevere (most I suspect). But cash in the bank is golden at a time like this....it should let them ride out the storm until financing/market conditions improve. Obviously Bill thinks they need the money longer term, or he wouldn't be dilluting us.

Wild card is of course the review and their potential cash grab.

CM.