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To: Spekulatius who wrote (41812)	3/17/2011 10:13:33 AM
From: Spekulatius	Read Replies (2) \| Respond to of 78974

re GFRE - I also noted that despite all their acquisitions, the bromine tonnage YoY was down Product sold in metric tons Year ended December 31, 2010 December 31, 2009 Year ended 34,672 34,930

To: Spekulatius who wrote (41812)	3/17/2011 1:59:16 PM
From: Madharry	Respond to of 78974

I think its more their english that is wrong. cash is whats on the balance sheet. I Was happy to see that that figure is increasing on the balance sheet and i would be shocked if that number turns out to be fraudulent as you are implying because the easiest thing for a cpa to check and verify and they have been doing that ever since i can remember is to verify the outstanding balances in banks ets by sending out verification statements. now as to why they havent bought back any stock, I dont know but i hope its because they will offer to buy back directly from the 15% shareholder who has started to sell shares already. I dont know why they didnt sell more bromine it needs furthur research. an optimistic possible explanation might be that they are retaining more of their production in house for added value products like chemicals and waste-water treatment and we will see those numbers in q1 of 2011.