If you look at the change in Directors shareholdings since June...

If you look at the change in Directors shareholdings since June 07, Ed was a purchaser of shares at a price significantly above the price they were sold for on the 27/02/08 @ $1.85.

Ed Groves Share purchases:

Date..........................No........... Price $

14/06/2007............... 202,500.... 7.017
26/06/2007............... 150,000.... 7.021
27/06/2007............... 150,000.... 6.899
06/07/2007............... 300,000.... 6.844
10/07/2007............... 200,000.... 6.787
16/07/2007............... 200,000... 6.709
29/11/2007............... 200,000.... 5.288

I estimated that he Spent $9.3M buyying shares betweem 14 June and 29 November 2007. These were sold on the 27/02/08 @ $1.85 for a total of $2.6M. Therefore, his loss just on the shares he purchased in this period amounts to a total $6.7M.

His wife did a little better. She purchased only 202,500 shares @ $7.02 on the 14/06/07 for a total cost of $1.4M. These were sold on the 27/02/08 for $1.84 for a total of $372,000. Therefore, her loss just on the shares she purchased in this period amounts to a total $1.0M.

Of course, back at the start of June 07 Eddy already owned an additional 18.8M shares and his wife owned an additional 16.8M shares. These were virtual all sold on the 27/02/08 and the 06/03/08 for $1.85 and $2.14 for Eddy and $1.83 and $2.21 for his wife.

Its hard to see that these sales would have been anything other than duress sales which they had no decision in.

As per latest notices, Eddy now only owns 3,186 shares and 308,880 Options in ABS and his wife now only owns indirectly 13,000 shares as a result of these sales.