EZ, we probably are'nt going to agree on much but it makes for good debate. our main point of argument is that you feel kry is in the drivers seat and can dictate to the noteholders. i feel the noteholders have kry by the b'''lls...as far as grz sitting on the property, this same excuse was used by ven officials/chancellor/minerven many times regarding kry.

as far as the billion shares go i think you'll be lucky if that is the worst case. here's part of what kry is currently facing (and until they actually deal with some of this i am not a buyer)

- in decembers financial statement kry was counting on selling (at least some of) the equipment to pay the july 15th note payment coming due. to date, the equipment has not been sold that i know of and the "change of control" issue may force an early demand on the notes anyway.

- in 2004, when these notes were issued kry was in a much different position and credit was much easier to obtain. i believe the notes pay about 9 1/2%???if that's the case and kry could get them extended or have a new issue (even at current rates, which i dont see happening) the notes will still cost about $50mil over the next five years. with 1/2 bil shares out krys market cap is around $38mil....i think a billion shares (or credit issuance equal to it, is generous).