Ann: Appendix 3B , page-14

Batroc

Norman Litz is a very smart cookie who topped his year and has worked a variety of key funds management and analyst roles. Probably out of Lehman well before the GFC.

http://www.ljcinvestors.com/team.html

I have no idea as to how quickly La Jolla may covert ther bonds then sell the shares.

Once licence agreements are signed for the product lines, it would I think be preferable for CDY to just cut costs to avoid what I believe is unnecessary dilution. While I'm not happy with some things about CDY, my focus remains (has to remain) on what the mk patents will probably be worth to the company within a reasonable investment horizon of a few years (if not before).

cheers