lind

When the announcement was made that Lind would be underwriting and providing "finance" I shuddered. I have made an assumption based on the wording of the announcement in particular the use of words equity and capital.

I have had a shareholding in the company GGP for some time and Lind got involved with this company. GGP is all but dead and buried. I am not suggesting that Lind is responsible, there are many factors involved in GGP's demise, but what has been a concern is that the arrangement with Lind, Convertible Notes, has allowed Lind to continually make profit no matter the SP. Even at the now .1 of a cent Lind is able to convert at 90% of the VWap and subsequently sell on market and make a profit. Not a whole lot of buyers for GGP at the moment but a profit for Lind anyway. In the past 12 months or so Lind has been able to convert and sell on a depreciating SP and make profit and had an extraordinary dilutionary affect on GGP's existing share holders.

My point is that the motivation for Lind is purely making a profit on their investment. A trading profit. There is no motivation for success of our ESI, it really makes no difference.

I am hoping that my assumption is totally incorrect, but given the state of affairs with other financing possibilities, I am extremely concerned that we will accept any deal at this point.