Ann: Presentation to Kalkine Investnest, page-23

A couple of things that should concern COD investors with todays volume and price movement:

• The top 20 shareholders held over 56% of the shares on issue at the time COD released it's top 20 report
• outside of a likely few more investors holding around the c. 500k mark, there are likely to be many "leftover" GBG investors with holdings worth as little $1-$2k . i.e. according to the report 9,568 investors held 37.4mm shares, an average holding of around 4,000
• today's trading volume according to my data was the largest since the day of stock listing, significantly larger than the daily average volume

So one can reasonably assume that "smart money" is heading for the exits.