Whether I expense or capitalize my interest, is irrelevent, I still need to pay it. Upto June 30/09, all interest due was paid, and either capitalized or expensed.

You haven`t included the $30M interest due Dec 15/09 and the $30M interest due Jun 15/10 (this is just for the Senior Notes, without considering any other interest payments). I've shown that we have the money to pay the interest for June 15/10 inclusive (wheteher Algar contributes or not).

You assume that CLL will make $50M operating profits for the next 6 months (I find that hard to believe, but I won`t argue your opinion).

Also, using your calculations, I wouldn't be inclined to seek any further credit facilities, whereby, CLL management feels it needs the additional credit facility for whatever reason.

I like your post and appreciate the content - this is why I like this forum. We won't change the world, but at least provide substance to our opinion.

Good Luck,

Booster