perlubie-1 , page-6

EL,

If COE accepted the TA offer of $1-07 it is equivalent to raising $12,291,000 for the issue of 39.6M COE shares @ 30cents. Not a bad outcome in these uncertain times even though COE do not have a controlling interest at present.

Your IPM are now trading at $1-05 on reasonable volume; some buyers must be expecting a higher offer from TA or is there a blocking game on? Where is your crystal ball EL? Let us know what outcome you expect.

IPM management & 'friends' (who have rejected the TA $1-05 offer) hold 13.5% which, combined with COE 27%, equals 40.5%; effectively blocking the TA bid for control.