1. Audited Financials - before we submit our financials for an audit we want to get all the capitalization as well as various business under the company umbrella. We are currently working on this and believe that it should be completed within the next several weeks. We had discussed this issue with our auditor and he suggested that that will be the correct way to proceed instead of having to do the audit all over again.
2. Brazilian Government Bond (MTN) - we have reached an agreement in principle that will allow for placement with us of approximately US$700 millions of the MTN. The terms and conditions basically are that we are allowed to use these bonds as collateral to open credit lines or raise funds but not to sell them on the market. Basically they are placed with us as endowment would be for a college or university. We are planning to go to Brazil this month to finalize the deal. As soon as the investment is in place we will immediately let everyone know. Please be advised that until the deal is signed it is not a deal so make your investment decisions according.
3. Hedge Fund - yes we are going forward with the Hedge Fund and it is one of the priority items for us.
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