Jurek,

Well done trying to explain the smoke and mirrors accounting numbers they produced. One other thing is I think your statement in your earlier post should also be repeated again for clarity.

"If you exclude $7.25 million of "imaginary" unrealized gain on remeasurement of convertible debenture and $14.98 million gain on assets sale the earning from the operation would show $18 million losses ($4 cents per share)."

I agree that without this these one off's numbers would have looked much worse. However those knowlegeable in the markets are not being fooled at all.

I was one of the long term holders of this company in the early days and after averaging down over the years I did manage to get out of this POS at break even so I was lucky.

In the meantime I have been trading it as best I can. I was doing very well but unfortunately got caught with the recent drop which happened when I was on vacation.

So I am actually back to square one. I do think there will be a significant increase if a partner can come to the table at reasonable benefit to CLL so I will hold till then and try to bank some cash when it happens.

I have learned a lot since I started buying stocks and for sure I would not be buying into this for the long term. There are a lot of others out there who are more worthy of my commitment.

Just on a side note I do believe that for the next couple of years the markets will trade towards the down side as I fully believe we are in a long term bear market so I am trading with that in mind.

The baby boomers have caused this latest massive destruction of wealth by overindulgence over the past decades and now they will also be responsible for the coming bear markets as they draw down their investments to suplement their poor performing investments.

I of course am one of those baby boomers and for sure there are just too many of us coming to or at retirement for the markets to be left unaffected.

It is just my opinion of course but I have done some research on this phenomenon and if correct the future does not look good to me. Not the end of the world of course if you are positioned on the correct side with your investments.

Sorry for the long winded post.

Good luck to all here.

Den