Ann: Sale of Utah Oil Sands Project, page-48

I haven't had that specific conversation with a director, but it has crossed my mind as well. If the product was that good, it could be cheaper to take over the company at the moment rather than have large ongoing orders and you could also on-sell to others. The bigger companies could buy HCD using the funds in their petty cash tin. It's stating the obvious, but I guess you avoid a low ball offer by having a sufficient percentage of the larger shareholders who can see a highly believable path to greater value than what is being offered as a take over. 48% held by the Top 20. I wonder how many would sell out for 5 or 6 cents these days. The directors only hold about 15% of the company at the last AGM.