Brian:

It's quite understandable that you're extremely upset with the current direction CLL is taking and that management is the target of your anger. Management at times does things that we as investors don't understand and then investors, rightly or wrongly go after them. I would like to stress to each and every one of us that we don't have the big picture. We don't know what's going on, so although playing armchair CEO and going on our little rants might make us feel better, they don't effect the company in any way.

Has it ever occurred to you that there's a reason for news releases to be vague and for companies to be secretive about their dealings? All companies do it, they report only what's required to the people they're required to..IMO it's to protect the company and their shareholders..Ever heard of corporate espionage? No company wants to air it's laundry ( especially if it's dirty) in public. Any hint of strength or weakness can effect the company by making it a take over target , victim of a bear raid etc..You divulge the least amount of info as possible. Look at it this way, would a football, Basketball, hockey or baseball coach release their playbooks to the public? NFW, Business is the same.

I'd tend to agree with BBQDAYS

It would be a safe assumption that raising the $175 million may have been a condition to secure financing for completing Algar. It's much easier to arrange debt if you can secure it with cash on hand, that leaves little or no risk to the lender. The monies raised will probably be held as a reserve in case the economy doesn't improve before existing cash on hand runs out. If it's not needed to fund day to day operations or complete Algar ( assuming a new line of credit is achieved) then it can either be used to start POD 3 ( money for this would either have to be borrowed or gotten through a share offering anyways) or even BUY BACK SHARES.