CDR - The official filing time should be around 11/14/2004 but we may hear about the debt conversion before that time.
The company has been making positive strides forward at the corporate level as well. We have retained and have on-board an Houston-based consulting firm to assist the company in managing the leaseholder and shareholder debt conversion. They currently are in the process of conducting exhaustive due diligence on the company, as they are charged with carefully reviewing our conceptual models, making pro-forma expectations regarding the company's future revenue and earnings, and reviewing our strategy in formulating a fair proposal to our leaseholders/ noteholders. I fully understand the concern among our current shareholders regarding dilution; let me just simply state that the successful completion of this initiative should have a significantly positive impact for our current shareholders -- we won't do it otherwise -- and it will position the company for future corporate success.
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