Ann: Despatch of Share Purchase Plan Offer Documents, page-4

Bill was asked whether he liked machine made or hand made cigars in that interview ---- now for cigar smokers ----------- you really know why he was laughing.

Non smokers probably don't have a clue

Now ------------ joking about $1 or $2 bucks is a hoot.

Interesting though ---------- when I was in ipr/nea and we used to talk about a buck ------- even when it was 6 cents ------------ some funny things happened --

Ross Norgard (chairman) in june 2012 was buying reasonable amounts of shares for himself (and family I think) ---------- give or take, around the 4 cent mark.

nea continued down to around 3 cents ----------

then it took off --------- Norgard was buying again around the 10 cent mark - still in fairly large lumps for a small company.

It finally stopped at 68 cents --------- after a basically 12 month climb almost unabated.

It did this with far less potential at that stage than LBT ------------- far less solid partnership backing and far less quality management (at that stage).

There are a lot of parallels with LBT ------------- now directors taking bigger chuncks -------

this is by itself important ----------------- but, what is more important is the TIMING and PRICE ENTRY of these purchases ----------- and what will be critical to watch is which directors take up how many.

We had the ceo have a little dabble in the 7's ---------- then we had Costello buy later - march 14 and priced in the 8's from memory --- about $50,000 worth.

Now - it sounds like over $300k worth at .135

Directors sometimes get it wrong ------------ but, one thing is for sure -------- they do NOT put their money on the table in those amounts if they think things are crook.

Directors are driven by self interest as much as any other human.

If they have put their money up ----------- they expect to get added value for that investment --

and, I say again and again ------------------ Swiss partners do NOT invest in things to get a piddly return.


Now ----------------- $1??? don't know ---------- $2??? don't know.

However ----------- present MC ----------- roughly $14 million.

NEA $147 million.

Would it be so outlandish to see LBT at a MC of $147 million?


Not in my book.

That gives us a SP presently of $1.47 (using issue of 100 million shares)

At 120,000,000 shares it makes it $1.22


Maybe talk of $1 and $2 ain't really jokey.


Ask an NEA shareholder when NEA was 3 cents if they could see 68 cents in about a year --

you would have been laughed off the forum.

Have a great day all.

Pinto