Fred was president of Gold City and was part of the team that found the money to buy out Harmony and get the GC/SGR amalco into the newco SGR. Merit did a 50:1 rollback last year and most previous speculators in the company are really thankful for the massive capital loss that we can carry forward for years to come. Today's 1.20 = .024 cents in old Merit stock. They've restructured after what was a very stressful period for most of the jr market.