Cad that exact same thought crossed my mind when I was browsing the Sedar filings a couple weeks ago. I did have to laugh at one comment. I will leave that up you guys to pick out. But as you say, admirable actions to have us where we are now in terms of $$shape.

A fundamental aspect, and significant item of competitive ability, of junior mining companies, since they generally have no income stream, is their ability to access and maintain the financial resources necessary to acquire and successful explore valuable mineral properties. Thus, raising capital on favorable terms and then managing those cash resources over the periods of exploration and development of those properties are critical not only the success, but to the very survival, of a junior mining entity.

The Company’s approach to raising capital is to directly focus on the importance of shareholder relations. This involves maintain good communications with both the shareholders themselves as well as fostering an ongoing relationship with the brokerage and investment community. With respect to conserving capital, the Company employs the use non-cash forms of payment when and where appropriate. That can occur, as the Company has done in the past, by the settlement of accounts or acquisition of services through the prudent issuance of stock, warrants or a combination of those two. It can also be done by the use of incentive stock options in lieu of cash compensation to management and consultants.

When either stock purchase warrants or incentive stock options are issued, there is a direct immediate and longer term impact of that issuance on the Company’s financial operations. Although opinions may differ on the exact cash equivalents at any particular point of that issuance, some reliable measure of valuation is necessary for accounting purposes. The method employed for calculating that value is the “Black-Scholes” formula, applying specific criteria relating to the Company itself and the securities issued. Although the resultant values are not always perfect, the accounting community deems that formula as the method most suited to reflecting the value for accounting and reporting purposes. The figures in that regard in the Company’s financial statements and Management’s Discussion and Analysis reflect the values derived in that manner."