Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[TenKay]

Just listened to the recording of the hearing. In his closing comments Judge Jones really slammed some of the nonsense and attacks that came from some shareholders in their letters. He all but admitted he regretted “bending over backwards” for equity and that he has learned from the experience.

One of the main reasons he allowed the AHEC and funded it was to provide a mechanism to communicate and educate shareholders. Clearly that objective was not met...as he observed that many of the letters filed showed a lack of understanding of the process.

Equity will be wiped out. That is an unfortunate reality.