Ann: $30m capital raising, page-117

It’s not difficult to be a professional in the eyes of the tax department, that is trading rather than investing, many people here are “professionals” in that regard, don’t get this mixed up with thinking you’re dealing with Goldman Sacks. If you are good you are paying the top rate of income tax, 45 cents in the dollar. Investing in QPM and not trading gives us 25 cents in the dollar. Some think this is a stock worth holding rather than trading due to these tax implications and the projected high return. Some trade it not considering the FA and long term vs short term gain. Generally it is accepted you don’t trade an investment and you don’t invest in a trade. Not to say you cannot be a trader and an investor. But bagging each other out is at cross purposes.