china gsa extension correspondence, page-18

Glendronach,
Clearly at that time I did think it was worth $1, however, many of the things I had counted on , which I listed , did not come to pass.
Firstly , the test results were extremely poor.As a result ICN management reverted to its bad communications. There has been no update from NSA for a year.
I still wouldnt read too much into Stanwells decision to continue funding. They are playing with taxpayer dollars and would look silly walking away now.
So yes I have gone from a believer to a pessimist but it has been based on a clear lack of any value being added.
They are no closer to having any reserves now than they were 2 years ago.
Finally, there is a reason why I was once a holder and a number of reasons why I am not anymore.Its not a matter of selling and changing my view. It is a matter of changing my view and selling.
Occam