Norcedo

Steve,

Thanks for the voicemail. I was surprised that you were not up to speed
(although I probably shouldn't be). Please talk with Joe and get is view on
this. I left michael an email on my view, which is that it looks very early
and I don't think it is worth our time or money at this point. Certainly he
wants to maintain a good relationship and watch them and maybe you can help
with that.

Let me know if you get any other news.

Thanks,
Mike