As I read it. Comparing pages F15 from 2005 and 2004, it looks like the company`s debenture exposure has dropped by about 75%

And, if I am reading the balance sheet right, our declared loss of $2,693,550 is directly attributable to the $2,820,170 interest loss on debentures/notes.

Add a 1.8 million loss to buy off the debenture holders for the TPL deal to go through and I don`t think it looks so bad. It doesn`t look great, but considering the 6.7 million coming in, it doesn`t look bad.

This is IMHO and, since I slept through Accounting, I could be totally wrong on this. Corrections are welcome.

Also, it looks like BandO is pursuing a ``success fee``.

All I can say about that is Shakespeare was right.