Portee,

Again I have to agree with you- aside from substituting names of the flavor of the day projects like Milestone, that video could have been made any time. One thing that particlularly distressed me was Brian's insistence that they would continue to make acquisitions. Unless these are near or in production acquisitions, that's not a very good idea. Kodiak's biggest problem has been lack of focus and effort (20+ properties!), and the last thing they need is to spend more money or dilute more to acquire more properties that are nowhere near producing revenue. Brian said that more properties reduces the risk that none will pan out, but I say that it increases the chance that you will run out of money before any one property can be brought to maturity. Brian's constant references to increasing shareholder value are poor solace to anyone who has bought in the last four years, with KXL at a four year low.

spiny