1. We have no financial interest in WC. We own units in the...

1. We have no financial interest in WC. We own units in the Premium Income Fund (PIF), which is managed by WC. The Premium Income Fund still has some assets, but most of its assets have been transferred to ARL. No one can be made to put any more money into PIF.

2. We now all own shares in ARL, a situation which will not change regardless of the outcome of any ASIC/WC legal action (the egg can't be unscrambled). We have all received copies of the ARL Annual Report, hence ARL recognises us as the company's shareholders.

3. Management of ARL is now the responsibility of the Chairman David Beddall http://en.wikipedia.org/wiki/David_Beddall . He can't be held responsible for the assets he has to sell, but he has a legal duty to act in the interests of the company and its shareholders. Managing costs should be high up his agenda...so far the signs don't look good!!

4. The class action will take time. IMF's web site says the following.. "Parties have now completed interlocutory steps including filing defences and providing discovery. Preliminary hearing on separate question of reflective loss on 3 April 2014. Final hearing listed for 12 weeks commencing 7 October 2014."

5. IMF owes nobody and apology. It has spent a lot of its own money for the potential benefit of PIF unit holders. Everyone else in this situation has just been spending (a lot) of our money with very little to show.