you have to pay the little bills first......., page-7

LOL

Dont think I have ever laughed harder in my life. Ive actually let out random bursts of laughter all day. Right now Im laughing while typing this. I think his last question went for 5 minutes. I think he signed off by thanking the board for paying bills!

I'll actually be requesting a copy of the AGM minutes once it has been lodged with ASIC. Minutes are made available for investors. They'll need to detail all questions and answers from securityholders!

Coppertop summed up the AGM very well. Cant really add much more. Thumbs up to him. Yes I did ask a few questions. However, I was given very generic responses. Still dont understand why the margin wasnt disclosed in Fri's ann?! Also raised the issue about not being proactive with their disclosure especially with regards to US$360m superllc debt being refinanced in Oct.

Anyway from my discussions with management afterwards, they are trying to err on the side of caution given they are in ASIC's spotlight. They are careful about every word they say in their announcements.

Going forward I continue to be excited about CER's prospects. its all coming together nicely. Going concern risk is almost next to negligible. 1 year ago, CER's life was a day to day proposition according to a few at CER I spoke to; now CER can focus their time fully to their operations.

I confirmed with management that Sep 09 results were compared to Sept 08, hence why NOI was -6%. Occupancy levels crashed after Sep 08. As I mentioned in a post not too long ago, this figure will improve.

Also the distortion in the LVR from my calc to CER's calc is because, CER actually got those properties secured against the facility revalued as at Sep09. Thats what the bank wanted. Properties in that facility were devalued by 1% for the Sep09 quarter! Safe to say that the bottom of the cycle in Australia may be here.

Keep the faith all. Its all good.

Cheers

P.S Just let out another random burst of laughter. Geez that was so funny. I wonder how those questions will be documented in the minutes!