February 10, 2008

This is what I received from Paul yesterday.

I can concur from what I know is that Sarah has been so out rightly annoying that things have been said simply to get her off the telephone lines.. and some of that has been reported back and forth along with the real facts of the matter have caused this confusion, all of which has served to achieve nothing but annoy the hell out of everyone concerned.. however that said I can advise you of the following which is the fact s as they stand right at this minute.

1. We had and still do have EVERY intent to fund our clients (yourself included).. there has never been any other intent from our side.. situation is that I have 450 million dollars of Bank Guarantees sitting in the bank in Sydney Australia which have been there since October and we have not been able to get them cleared via the bank in Sydney.. nor the issuing bank.. if they had of cleared we would have been able to fund immediately.2. Consequence of that we had to bring other Bank Guarantees into the bank.. (which we have done) the latest arriving in the past few days and we are literally waiting for the European Bank to affirm these guarantees as genuine.. (which we know they are cause they were issued by a Government - the original funds coming from the United Nations). - Soon as the bank gets the go ahead my trustee bank can draw down on the credit lines ( Which have already been approved - as per my letters) and then the transfers can take place via my lawyers here to the lawyers in the USA (Patrick) for immediate settlements.That is the update as of 30 seconds ago.. so you can not get news any fresher than that.I will advise immediately.. that the bank gets the go ahead regarding the collateral (bank guarantees) - this information is due and expected in the next two / three / four days.. the exact minute / hour or day I can not give you.. all I know from what the bankers have advised me is it will be VERY soon.