bid not recommended, page-25

buddy,

I'm not selling yet, but I'm not quite so optimistic anymore that NXS or others can do much.

Until ROC had actually issued the shares, in exchange for acceptors' AZA shares, they could still have theoretically pulled the pin on the whole thing.

Now, however, they have essentially said they'll be happy with 70-80%. Not just said it, in fact, they've done it!

So, now NXS would need to satisfy itself that having $30m-odd of capital tied up in a company which they cannot hope to control, is a judicious use of their shareholders' funds.