Ann: Letter to Shareholders, page-10

I'll be blunt. Patents are a dime a dozen unless they are in use and shown to be superior to what is in the marketplace or have sufficient hurdle / moat to ensure that others encroach and you get payment for your IP. Unless CCE can show income of are actually using their patents it is just a cost burden that looks nine in annual reports and accounts. They need a working product earning income or their patents earning income in others products . There is many ways to skin a cat and more than that you have t have the deep pockets to fight a GE or major if you think you are being infringed. None of this is within CCE capability IMO. Also we know CCE has spent millions on patents but we honestly don't know how well put together the package is and if it can actually prevent or create a great enough moat that a competitor would have to approach them. Its a specialist field and previous management did so poorly for holders I am unsure if they were good at the patents aspects .