OK sorry on #1. I just re-read your first letter. You've got it covered. Excuse me, please.

Our company has many thousands of shareholders, some bigger than others. Sometimes there's a tendency for smaller shareholders to suspect the larger ones of exerting a bit too much influence. I think some folks are just bound to see conspiracy and intrigue behind every shadow, and there's nothing I can do about that. Let me just say that I've never come under any pressure from any of our shareholders, large or small. This company is not run by committee, nor is there any secret cabal that guides our decisions. I serve at the pleasure of Patriot's Board of Directors and none other. All the decisions come from this office.
 

We still will greatly appreciate your next shareholder letter. Thanks.

Regards, Oscar