letter from carina capital, page-10

"In the above example, George Soros needed 10 billion pounds to move the British pound. In Elk's case, based on the latest market depth, Carina Capital only needs $85,394 to move the share price from 10.5 cents to 19.5 cents."

If Elk ever moved that much there would be many, many shares coming into the sell queue.

And yes, reporting it to ASX and ASIC is a waste of time as there are two sets of rules: one for the ordinary shareholder and one for the other end of town, the "BIG BOYS" the "SOFISTICAYED TYPES", and "INSIDERS" where anything goes and is ok.

Elk is a perfecr example of the ordinary shareholder getting diluted, seeing the price tank and the other end of town getting lots of bucks.

And yes, Elk is undervalued and has been for many years, unfortunately the management and BOD have seen to it that the amount of value per outstanding share has fallen by 2/3rds over the recent past by increasing the number of shares outstanding and poor management of the company.

A really good case for business schools fo how to ruin a business that had high future value per share and a good future.

Now you got squat.