Graham, - Toby Merchant confirmed that Paperlinx is solvent. He...

Graham,

- Toby Merchant confirmed that Paperlinx is solvent. He specificall stated at the investor briefing that "solvency is not an issue".

- Loss Making Entity - depends how you look at it. The majority of the 'loss'is due to accounting entries on impairments and FX events that have since passed. A lot of hocus pocus in my opionion. As Warren Buffet states, "The value of any stock, bond or business today is determined by the cash inflows and outflows". Doesnt Paperlinx have a poitive operatin cash flow?

- Default on Loan or Interest Payments - the company did not default. The company exercised its rights under the hybrid instruement to suspend interest repayments.

- Difficulty in Obtaining Finance - from my recollection, in May the bankers extend its borrowings out to 2013.

Graham, clearly you are peeved off with the PXUPA non payment. That wouldn't be the same Graham mentioned in the AGE that set up the Paperlinx-Sux.com site?! You (I assume that is you), have an axe to grind.