re: query to cp1 on 2008 result

Last week I sent an email to CP1 touching on a few different issues. I got the reply over the weekend (which was nice).

Basically it contains nothing new, the key point of interest is quoted below:

"Given that we expect CP1 to achieve a break even result for the 2008 year it is not anticipated that a dividend will be paid for the 2008 year as the company is only able to pay dividends out of profit. "

This is the second time I have been told (or at least the inference has been made) that the 2008 result will be "break even or slight loss".

This leads me to believe that perhaps the annual report may not be the horror story many shareholders are expecting.

Even with a heavy devaluation of current assets (even if a "fire sale" or two was in the offing to increase liquidity) it seems that the current market cap of about $23 million (NTA $130 odd million) makes the current share of compelling interest to any speculator.