So far, my timing has been remarkable. First, I doubled my position two days before the
original offer. Next, I more than doubled my new position, again, two days before the
offer was raised.

Now, I am at my highest level yet and not budging. I am without a clue as to what to expect
in the next week or two. However, we will see significantly higher prices soon after.

The main reason is the fundamental serious undervaluation.

Also, I have a suspicion that there are too many way out-of-the-money stock options held
by Board Members for there not to have been reassurances given that this deal will not
result in them expiring worthless. Compared to Board of Directors’ attendance fees, the
stock options exercisable well below new higher market prices, by far, pays better.

With so much at stake, I find it hard to believe most of the Board will wind up underpaid.
A few examples of outstanding options held by Board Members follow:

3,150,000 at $1.43
2,800,000 at $0.99
200,000 at $0.90
1,000,000 at $0.74

I reiterate, stock options are one of the reasons I’m holding on; but not the main reason,
which is the favorable outlook, driven by loads of assets and loads of resources. That
hasn’t changed.