Ann: Proposed issue of securities - CMD, page-9

Ah Emu… back at it again with your usual spin and tired calculator.

You point to $26k traded and scream “manipulation” while completely ignoring how illiquid CMD is—and why that’s a strength. When a stock is tightly held and most of the top 20 aren’t selling, even small buying volume sends the price moving north. That’s not manipulation—it’s organic price discovery.

Let’s talk about the top 20—this is where your argument really crumbles. We’ve got seasoned names like Peter Koller, who knows litigation wins when he sees them; Dr Dennis Low, a highly respected neurosurgeon and long-time investor; the Lenahan Family, known for backing long-term plays; and John Patrick Hills, another veteran name. These people aren’t flippers—they’re believers. And they’re still holding and increasing their holding in a very large way.

Now let’s talk fundamentals. The claim against Ghana is north of $440 million. That’s massive by any standard, especially for a microcap. And what’s the asset behind that claim? Gold. With gold prices surging and expected to go even higher into 2026, the value of CMD’s claim could balloon further—something you conveniently ignore.

Meanwhile, CMD has delivered:

• Arbitration at The Hague confirmed
  
• Memorial and evidence filed
• And we’re now counting down to the full hearing in mid-2026

This isn’t vaporware. It’s real, and it’s progressing.

Funny how you also ignore the fact that many Indiana Resources holders who’ve banked wins there are now eyeing CMD as their next litigation play. They know the cycle. They see the setup. And they’re moving early.

So Emu, while you keep throwing mud, others are quietly accumulating, because they understand that CMD’s re-rate is just beginning.

Stick to the facts or step aside.