Ann: Trading Halt, page-4

They do not have much cash so it would have to be mainly a SGC script payment or they would have to do a CR .

If the CR was to all shareholders and underwritten it would probably have to be at a price significantly below the current SP .

We wait and see but I have some optimism because of the alignment the BOD have with other SH's and the frugal way they run the business.

I hope having REL as a participant instead of PCL does not cause problems in getting the program started at Alvares .

gltah