Well, here we sit under $1.00. Amazing. But, if you have been watching Mosaic go from 160 to 77, and all the other commodity related stocks down at least 50% in the last 10 weeks, I guess we can just shake our heads with the rest of them. Huge forced commodity liquidations are ongoing with no apparent end in site.

Of course it will end,and most of these companies will be terrific buying opportunities."Dot.com" meltdown? I don't think so.If anyone has read through Mosaic or Potash last earnings report,they are making BILLIONS of dollars. This is not a "dot com"dream.These are the facts. People still need to eat and will always need fertilizer. I haven't heard that the price of phosphate has fallen from $400/ton to $50.Has anyone out there? Is demand falling off a cliff also? These are the facts that we don't know.

What we do know is that we have approx. 55 cents a share in cash in the bank.

We have IFFCO, the largest fertilizer cooperative in India, guaranteeing to buy 80% of our phosphate when we start producing it.

We have tremendous institutional shareholders in Atticus, Soros,etc. Although they are down sharply from their $2.50 share investment, they know that they still have value. These are long term holders.Think about it. Soros's fund bought 8 million shares at 2.50/share. They know even today that they couldn't buy in the open market 8 million shares at that price. Someone trying to buy that amount of stock in the open market would run the price up at least 4 -5 points.

We just have to weather the storm like the rest of the market. At least while we are waiting, the company is moving ahead with their business plan.With CASH in the bank. We don't need $$$$ right away,and when we do, IFFCO will make sure we get it.

Sell this stock for 90 cents???? You've got to be kidding me. At these prices, the company should spend $20 Mil and buy back 20 million shares to reduce the outstanding shares by 10%! Sit tight. We are trading at less than two times cash. This too shall pass, and you will be kicking yourself that you didn't buy more stock. Hold your nose, because the market stinks. It's not an attack on Legend.