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To: axial who wrote (8385)	1/8/2002 9:12:58 PM
From: axial	Respond to of 14101

House Positions for DMX from 20010806 to 20010905 *********House***** Bought $Value Ave Min Max Sold $Value Ave Min Max Net $Net 2 DS******************* 67,665 427,643 6.32 5.64 6.85 204,874 1,273,130 6.21 5.64 6.85 -137209 845487 89 Raymond James** 0 *************************** 23,000 140,895 6.13 5.5 6.76 -23000 140895 83 Research Capital* 1,900 12,721 6.7 6.65 6.75 18,948 121,009 6.39 5.86 6.75 -17048 108288 62 Haywood********** 0 *************************** 17,000 108,700 6.39 6 6.5 -17000 108700 11 Yorkton************ 3,700 23,325 6.3 5.75 6.79 13,700 81,784 5.97 5.64 6.85 -10000 58459 69 Taurus************* 0 ***************************** 8,200 50,472 6.16 5.64 6.55 -8200 50472 22 Thomson Kernaghan* 42,900 277,355 6.47 5.69 6.85 48,700 310,796 6.38 6.02 6.85 -5800 33441 15 Bunting************** 5,000 28,250 5.65 5.65 5.65 10,000 63,403 6.34 6.11 6.45 -5000 35153 54 Global************* 0 *************************** 5,000 31,900 6.38 6.38 6.38 -5000 31900 27 Dundee************ 3,000 19,870 6.62 6.6 6.64 7,850 49,122 6.26 5.85 6.6 -4850 29252 135 State St********** 0 *************************** 3,100 18,050 5.82 5.68 5.9 -3100 18050 88 Versus************* 6,668 40,401 6.06 5.6 6.75 9,680 57,088 5.9 5.61 6.8 -3012 16687 36 Latimer************ 9,900 63,985 6.46 5.9 6.75 11,000 71,305 6.48 5.91 6.8 -1100 7320 44 Jones Gable****** 1,500 9,675 6.45 6.45 6.45 2,000 12,940 6.47 6.42 6.6 -500 3265 23 Schwab************ 0 *************************** 300 1,938 6.46 6.46 6.46 -300 1938 4 Dlouhy************** 7,000 44,480 6.35 6.25 6.4 7,000 45,810 6.54 6.45 6.65 0 1330 37 MacDougall******* 300 1,965 6.55 6.55 6.55 0 *************************** 300 -1965 87 Rampart*********** 800 4,800 6 6 6 0 *************************** 800 -4800 59 PI****************** 1,000 5,690 5.69 5.69 5.69 0 *************************** 1000 -5690 33 Canaccord******** 12,155 76,222 6.27 5.61 6.85 9,985 64,532 6.46 5.65 6.8 2170 -11690 84 Independent Trading 99,157 622,525 6.28 5.51 6.85 95,578 607,176 6.35 5.6 6.85 3579 -15349 9 Nesbitt**************** 61,792 386,639 6.26 5.5 6.85 57,906 365,635 6.31 5.8 6.79 3886 -21004 81 HSBC************* 11,950 77,192 6.46 5.65 6.79 2,000 12,100 6.05 6.05 6.05 9950 -65092 85 Scotia************* 32,275 193,514 6 5.5 6.6 16,609 106,065 6.39 5.65 6.85 15666 -87449 19 Desjardins******** 37,510 242,490 6.46 5.62 6.85 11,470 73,194 6.38 5.66 6.75 26040 -169296 79 CIBC************** 82,850 519,631 6.27 5.63 6.85 47,687 301,126 6.31 5.6 6.85 35163 -218505 39 Merrill Lynch****** 69,412 435,907 6.28 5.66 6.8 25,885 162,253 6.27 5.58 6.8 43527 -273654 80 National Bank**** 66,650 428,589 6.43 5.6 6.85 20,750 133,548 6.44 5.6 6.85 45900 -295041 7 Green Line********* 156,336 969,496 6.2 5.51 6.85 103,198 648,391 6.28 5.51 6.85 53138 -321105 Total******************** 781,420 4,912,365 6.29 5.5 6.85 781420 4,912,362 0 0 0 0 0

To: axial who wrote (8385)	1/9/2002 2:43:13 AM
From: axial	Read Replies (1) \| Respond to of 14101

Hi, Joe - That chart below was almost unreadable. Apologies for the bad formatting, even with Excel. The link below for the month of August shows the 3 A's almost totally absent in the time before the Sept 5 Acqua announcement. stockhouse.ca Not trying to be confrontational, here; I'm trying to understand what I'm missing. Apparently, the thinking is that the Acqua deals are done first, and announced after; therefore the recent selling would precede an announcement that is coming. What is the reasoning behind this? I'm not suggesting that there can't be another draw. But wouldn't such an announcement be followed by more selling, not preceded by more selling? Regards, Jim

To: axial who wrote (8385)	1/9/2002 12:36:30 PM
From: Cal Gary	Read Replies (1) \| Respond to of 14101

Hi Jim Sept 11 Of course DMX had made previous draws, but in my mind events of Sept 11 triggered DMX to act. They were low on cash at the time and Sept 11 nailed the markets and closed them for a few days. So the risk of raising capital increased. Understatement at that time. I'm sure REK and board members needed to make a decision to shore up this part of their operations. They have been drawing every month since. TK was the primary vehicle for the draws. On Sept 11, TK began the hedging for Acqua. On Sept 19, Dundee joined. The dynamic duo. On Sept 28, ITG made the threesome. The 'three amigos'. Using these dates, you'll find that they hedged slightly more than $1mm loonies. Then the Oct 1 NR confirmed the $1mm draw. BTW Did I mention that DMX has 2 completed Phase III products? and Pennsaid Works, and Works Well.