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    Dear Dale Elph..

    We are seriously underwater on our underwriting of the recent share issue. How about giving the market a rosetinted update so I can offload some more at less of a loss.
    Regards

    The underwiters



    Dear Underwriter

    I hope that helped, but if you hadn't sold as many into the announcement the increase might have held.
    Too bad for the suckers who bought the story, eh.
    Regards
    Dale
 
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