Ann: Appendix 3B, page-20

I actually find it tolerable. Only just. What I find hard to tolerate are the posts suggesting that the Solomons are putting more CASH into the Companies while it is shown to be cash that they sourced from the companies in the first place. They are no fairy godfathers but astute business men that are doing quite well out of TAS and EDE. So far Edencrete looks like a goer but it is only one of their projects, the rest of which look like dismal failures at this stage.That is calling a spade a spade and is based on a long history of investment with these companies

I continue to do relative value trades. Today I sold EDE and bought back quite a few TAS at what I think is a good relative value trade.