cdu legal action

To All Members,

As you are all well aware HC was recently issued with a legal suit from Cudeco Limited (CDU). Cudeco was claiming $200,000,000 (no that is not a typo) in damages from HC for allegedly publishing defamatory posts in July 2010. Cudeco blamed these HC posts for the weakness in the share price and the difficulty to raise $200 million in capital.

HC was in the process of assembling a legal defence team until today, when we received a fax from Cudeco's legal representative. The fax was a notice of discontinuance and stated that CDU was withdrawing all claims against HC. No reason was given for this decision.

HC would like to thank all members who have offered their support in this saga.