Fortitude Group, Inc. (FRTD)

[Ex Blockman]

Hello Aliangel,

I do not profess to having any models to determine future cash flows and earnings. I found myself sitting in the Mobile Airport doing all this by hand and my pocket calculator. It was exciting yet tedious. Although my numbers are nowhere near as exact as yours probably are, I still came to similar results. I might add that these numbers were attained also with only items that have been PR'd and released to date. After our visit last week, we found that there may be other sources of income downstream. At this point in time, it would not be useful to speak of the potential extra revs and income. Those extra streams, if brought on line, would possibly be the little extra necessary to begin a dividend stream. I also share the opinion of not paying out dividends until the company has matured for a few years. I would rather see IHDR put the reserves back into R&D for future innovations.

I realize these ideas and direction for the company would not suit a trader or short term investor. But I am very optimistic that those shareholders that stay invested and grow with IHDR through the years, will result in a very dramatic growth of their assets.