There is no doubt that the RS announcement had a negative effect on momentum.

However,the fact remains that management had to seek shareholder approval for cosolidation (RS) and the AGM was the appropriate time to do so. Timing this was then a dichotomy for management. In my opinion on balance they took the correct decision, given the horrors of the Venture Capital market.

Given the continuing nonsence we have obvserved since then on TSXV. I believe that moving to a more appropriate market cannot come soon enough. Management felt they might need consolidation to achieve this and we have voted for them to have the tools to achieve this or rather the option to use such tools as consolidation (RS).

Questioning management competency based on thin evidence is damaging and should be avoided. Management make the decisions they do with far more information available to them and with greater knowledge and insight into the future path of this company. They are far better placed to lead this company than the armchair executives of this board.

Given the disasters of the OPEL days I also think they are doing a dam good job of it too.