j.. mr n are you the pres/ceo of spider resources?

mr.n.....yes your honour

j..as a holder of those positions, do you have a fiduciary responsibility to your shareholders?

n..yes your honour

j.... were you aware of the valuation that kwg resources had just completed?

n...yes your honour.

j.. and was spider resources aware of their own valuation?

n.. yes your honour.

j... and were these valuations higher than .19c offered by cliffs?

n... yes your honour

j.. and knowing your commitment to your shareholders and knowing that both valuations were significantly higher than the cliffs offer, you went ahead and accepted their offer?

n.. yes your honour

j... and could you tell me why sir you did that?

n..yes your honour, i was tired.

j..you were tired? and that's the reason you sold, even knowing a much better offer awaited your shareholders?

n..yes your honour, i was extremely tired from walking through all those bogs.

j.. and is there another reason you accepted the undervalued offer?

n.. yes your honour, i was angry at the shareholders for voting down a recent reverse split. i'm the captain of this ship, i'm the president. i own this company, it's mine so i was angry when they didn't give me my way.

j...so you in effect were punishing them?

n.. yes your honour, as i said, it's my company and i can do what i want.

j.. but you understood that you were in effect cheating all those shareholders who put their money into your company. they did it on trust.

n.. yes your honour, as i said i was tired and wanted to show them who was really in control.

j.. and that would be you, mr. novak, i presume?

n.. yes your honour, it certainly is.

j... this case will continue tomorrow as witnesses come to the stand with stories of their involvement with spider resources.