Soros's two funds that invested in the June $105 million private placement filed to report that they own over 5% of the company.They invested at $2.50/share ,same as all the other investors. After a private placement is closed, the company files a registration statement with the SEC to register(make the shares free trading)the shares that were sold in the offering. Last week the SEC declared the registration "effective" meaning that they approved the shares to be freely tradeable. Once that happens, any person or institution that owns over 5% must file with the SEC to report their holdings.

This is old news that Soros has this stake in Legend. When the S-1 registration statement was filed with the SEC back on August 1, all of the investors that participated in the placement are listed along with their corresponding stock positions. Go the the SEC website to read it and see all of the other investors.

These high quality institutional investors have much bigger worries on their hands today than to even think about selling their relatively small position in Legend. These are multi billion dollar funds that invest a very small portion of their assets in small promising companies, such as Legend.

The Legend story remains intact. The biggest advantage we have over everyone else in this area is our relationship with IFFCO. IFFCO, being the end user of our phosphate, has COMMITTED to purchasing 4 Million tons per year or 80% of our anticipated production.Also, they have become a major shareholder and hold two board seats.

The major ag stocks such as Mosiac and Potash are still making BILLIONS of dollars. The forced hedge fund liquidations are crushing these stocks even though they are very cash rich. Mosiac and Potash are currently trading at P/E's of 3, down from a high in the 20's.This storm shall pass, and when it does we should be in prime position to take advantage of it!!!