Good Post Stroot,

I'm actually quite surprised that (supposedly) the current noteholders aren't participating in the new private placement. I figure its a good deal for them to just roll over their debt, and effectively gain control of somewhere around 60%-70% of the award.

I guess they want the whole thing for themselves, but even then, after going through the whole bankruptcy process as you mentioned, there is still no guarantee that they'll get more, and may even get less.

I mean, if they were offered an opportunity to participate in this private placement, and chose not to, and effectively forced the company into bankruptcy, I'm sure it wouldn't look too good on their part in front of a sympathetic judge.

If anything, this private placement shows that we at least tried to make a deal, and even gave them (or any potential investor) the majority in any award or settlement. The bondholders have already lost to us twice in court. Are they willing to make it three times lucky?

If crystallex has been good at anything (and this is being genererous), it has been shown, from the beginning, that they can win in court.

Either way, I still think this placement gets done. However, I hope we aren't waiting too much longer. At a certain point, our managment has to say, "We've given enough away, take it, or we'll go to bankruptcy". This is getting ridiculous.

It doesn't matter how good your resume is until now Mr. Fung, if you screw this up, it will be remembered. Is this how you want to go out? lol.

Cheers,

FK.