Pic,

I'll tell you I don't post much, but I read everything said here. Pic, when I read your last post about the upcoming Mother's Day get together at your house, it really struck me as funny. I don't envy you, but it really made me laugh. I have done the same thing you have done as my son has put money into SFMI for his kids college fund, (I told him no more than 10% of those funds, but they put more), my daughter and son-in-law have invested and he even came with me to last years Annual Meeting. And then there is my grandson, he invested and then had to sell to get his money for whatever purpose. I think he bought at $.08 and sold at $.05. When I spoke to them about SFMI I was so sure about it as an investment. We like your family have watched it slowly sinking into the sunset. But they have all been understanding and I don't think I will have to cover their loses. They do all seem to understand and still have hope. They all are still invested except my grandson. I have continued to buy over the last few months and now have averaged down to $.055 per share.

I am no longer so sure, but now just hopeful. I'm still sure about the project, but now only hopeful about the financing. It doesn't make any difference how good a business or project is if you don't have the money to continue. In reading the 10k, it is very obvious that they desparately need financing to cover future operations and infrastructure, but also funds to cover past borrowing. Pay them all off. I have always found that money can be found, but the lender always requires that they be protected and depending on the risk and the quality of management, to make a return that would reward them well for that risk. There are not very many kind and compassionate lenders around. I sense that PQ is not a very congenial borrower either, so meetings between he and potential lenders must be something to behold. I fear PQ will ultimately have to give away a lot to obtain funding. That is probably why nothing has yet come to pass. I think PQ will get the best deal possible under current conditions, or if he is too tough, no deal at all. A difficult balance.

Regardless, I hope all readers here have a wonderful Mother's Day.

Calfarmer