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To: W PAUL who wrote (2354)9/25/2001 10:45:32 AM
From: Claude Cormier  Respond to of 4051
 
RCF owns equity in CBD, not convertibles.



To: W PAUL who wrote (2354)9/25/2001 10:54:29 AM
From: russwinter  Respond to of 4051
 
<Cumberland is on Resource Capital's list>

Rest assured, I've looked this over. From the financial notes in CBD's annual report I see no mention of any convertible warrants or RC. Also in looking at RC's portfolio page, the position is listed as "equity". Therefore I believe the RC position in CBD to be that of a standard shareholder. I found no evidence of a toxic warrant if clear disclosure has been given by CBD.

In the case of GEO, disclosure was poorly given in my opinion, and absolutely no clarification from this company has been made during the toxic countdown. The last IR, made no sense in terms of the B warrant, and I consider myself to be a relatively intelligent person, able on most occasions to read clearly written English. Please correct me if I'm wrong here.
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