We must realize that management needs to stop the bleeding first before recovery can happen. The outstanding warrants need to taken care of first before buying back shares on the open market. If you really think about it the share buyback program has begun through management intending to buy a portion of the warrants. These warrants, if not retired, will eventually be converted into shares and hence be thrown into the float just like they were when S/L retired all the remaining convertible debentures. I don`t understand why management did not buy back all the convertibles to prevent those shares from entering the float in the first place is beyond me....they had the cash? (A good question for the ASM for those attending...I`m really curious about the answer) This should have been able to be done and if anyone has any ideas why it wasn`t I`m all ears. Saying this I really think the company is doing the right thing by beginning with the warrant buyback instead of the share buyback.

Since I won`t be at the ASM I respectfully request that those there make it a point to bring this up and ask management if they intend to retire ALL the warrants associated with S/L to keep them out of the float. Once those warrants are gone only then can management focus on buying back shares if that is the plan.

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