Ann: Quarterly Activities and Cash Flow Reports, page-25

Hi Sarg

All great points that you make, and not disputing any of them. I'm not in the money with these shares just yet. You're already in the money, as you say, so you'd be crazy to sell any at this point, unless of course you needed emergency cash.

With all my companies flying at the moment, it's hard to justify selling any of those shares and ramp up my HMX holdings when it's in a holding pattern. Of course, that would be value investors soaking these up. Perhaps I'll be one of them sooner than later.

What is your opinion on what general timeframe we're looking at for the next catalyst to light the fuse on HMX? 3-5 weeks maybe? I'm thinking that the long termers here would have a good pulse on that.

I must admit, it's becoming pretty tough to resist at this price.


A.I.