Ann: Quarterly Activities Report and Appendix 4C, page-8

In my view, it shows they have proven relatively resilient considering the drop in trading activity and client cash at hand. Expenses seem to have adjusted accordingly. I still wonder where some of this money is being spent but I am not as concerned as I was about the amounts being spent.

The acquisition noise and this report is a good sign. .18 looks like a pretty good price to pick some up at if the speculation about a .21 offer turn out to be true.