an open letter to kbl, page-2

Excellent - and along the lines of an email I sent to JW - to date no response !!!

The other point I queried was the return of 50% of SPP to SH with 20% on receipt of "R&D Refund"

The way this is worded is inconclusive as the wether a return of funds is to occur on FULL refund of monies claimed or partial retune (cut-off point?) !

Again - KBL is very generous with throwing money about: prepared to pay 20% for a "short term loan" - makes me think they do not expect a full return ????

KBL is currently paying excessive interest on KBLGA notes (issued at 38c @ 10%) - notes that I picked up for 20c and are now accumulating 18% interest and will have to be redeemed @ 38 c.

LT view should have been to use excess funds to redeem KBLGA notes early to restrain cash outflow at an excessive rate.

Quite a few "corporate strategies" appear to be short sighted (why on earth reward directors for non performance in cash ?) and as you pointed out the haste in which this has been put out.

About as good as the current GXY story - after all these years still putting out your hand to SH ??

Let me know if you get a reply since a small retail holder like me (only a measly 50K gon to zip) doesn't seem to qualify for a reply !

I also queried the date mentioned in October - does KBL expect to be out of funds by then ???? or why was 28 Oct chosen ?