Good research Teleprobe. I believe these type of funds have been somewhat documented in the past for their lack of interest in actual company success (see any company invested by Jim Dwek) but no one truly appeciated the extent of their harm in my view or how exactly they worked. I'm glad you found this information which clearly shows how these funds operate - not in the interest of you or I.

I think Smith should be sacked for arranging all these financings with Marquest (knowing their intent is not in the interst of shareholders) especially for the financing to save his ass, which we are likely seeing the remnants from now. He has done nothing but destroy shareholder value and the proof is in the pudding. What's the latest market cap? When in the world will people wake up and realize he is not capable of being a CEO for this company??? When will Smith actually accept he cannot and has not built shareholder value. Again, refer to the market cap! What kind of Board tolerates this kind of CEO performance? All the prized assets we once had turned into companies that went on to build way greater market capitalization than our company (Champion, Argex, etc.). Smith could not accomplish this feat himself, but other leaders and teams could and did do this. Even the securities we recieved in exchange have never been built in our price to reflect their book value. Smith cannot and does not know how to be a competent CEO in my opinion and his decisions should be scrutizined and held accountable. To top it off he doesn't believe in doing PR which blantaly flies in the face of creating shareholder value which i have a huge problem with knowing this is the mission of most public companies that have a duty to their investors.

Smith's problem is that he's in it for himself and protecting himself is his number one goal which he point blanked admitted to me during a phone call. I lost a lot respect for him and do not trust him.

I want out and I'm hoping to get around .12 - .14 cents where i will not hesitate to unload. I know my negative sentiment annoys current shareholders who have more faith than i do so i apologize to you. And for the family and friends of Smith who have appeared of late - I'm sure you'll take issue but I feel the evidence is on my side. After holding this one 6 years + it has been disappointing and a shame to see the sideways slide down to where we are now at a nickel and 140,000,000 shares outstanding.

As always, i hope to be proved wrong by Smith but i have not seen any changes in his style. Hopefully changes will come with the next AGM, if not sooner. But I doubt it.

Thanks for indulging my frustration...

Eudai