RR,

So what your saying is the "original" JV 33/66 was acceptable? and we now have a chance to permit LC without further dilution if we don't neg. a reverse merger.

If that was the case then why was hugo so neg. towards KRY ever being permitted via the original plan of the JV? I think the opposite. In fact , the new plan I have substituted for the failed JV forges a win win scenario into the AGM . The big hickup for the JV was the fact hugo didn't want to permit LC. With the new co. this cements a relationship with Vz. a "partner of choice".

The refi- is now CRRC's via KRY thru the RM . The $300 million up-front costs are really $500 million + other costs of the stalled project not realized. ISCID is another 5 to 600 million in dilution with risk. RM is another way of creating value w/out the risks, dilution and time generating production instead of hope.

Dendreonaire