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Can Someone Explain ?
Can someone explain to me what if we don't raise the £300k ? As far as I can read if we don't raise the money Mr Khan and his share issue will happen and the debt be paid off :confused:
So is all the fundraising to keep Mr O'Neil in charge ? Most people I've spoke to know that the money is there so why not accept the Stanley Supporters Fund money and get it over with. :confused: |
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I'm pretty sure if David O'Neil wanted to give up then the easiest option is the offer. The impression I got tonight is there is no way he wants to give up what he has only just started.
I also got the impression that if the full amount isn't raised in the 8 weeks then a fair share of it will have been and the taxman would be willing to discuss further arrangments for the balance. There is absolutley no benefit to the taxman to close the club down, and it would be very much a last resort. |
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unless i misunderstood i thought the don said there were a few options on the table n if it reached that point he would take the best one fer the club n fans.:confused:
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In away you would be correct; Mr. O’Neil paid Eric for the privilege of owning the club, so quite rightly Mr. O’Neil will want to hold on to his full investment, if the fundraising comes off; and I have my doubts it can be achieved in eight weeks, he will hold on to the club and as a chance of recouping his money; not to mention the personal funds he put in before the take over…This to me is only natural; if I had bought the club I wouldn’t want to give it away.
But; if the money isn’t raised then it seems he will admit defeat and except the ASSF/Khan offer in order to keep the club alive; and maybe the chance to pull something back for his efforts…..That’s how I see it, and I will repeat, it is almost like blackmail “give us control or you lose it all” Personally I hope Mr. O’Neil, the Club and the Fans succeed; despite my support for the ASSF I think it’s too early for control to be taken away from the current line up. But I could be wrong….. |
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Is anyone going to give any comment on the evenings events? please....
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All I'm thinking and others I spoke to is that they would rather pledge money to the ASSF to take charge of the club than give it to someone who might not raise the full amount and where does that money go ? People think the club has been mismanaged for too long and don't trust the club any longer with their hard earned cash.
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Starnegely enough Doug although you weren't there your post above probably sums up the extent of the meeting :) |
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I agree but your man in the street just thinks it won't go bust because the ASSF fund is there. I think if that money wasn't there it would be panic stations !!!
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Surely, if people contribute to the Save Our Stanley fund, they're helping to pay off the tax bill, whatever happens. If another six weeks down the line, it's becoming apparent that the required target won't be met, and the D'oN decides to sell to Ilyas & the ASSF, the more money that's been contributed to the fund, the less money the new owners will have to use to pay off the tax bill and the more they'll have to spend on new facilities, players etc.
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He said he wouldn't be throwing money at it, but would continue to provide certain income in various ways for general running of the club where required. |
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I feel more comfortable contributing directly to the club via the “Save Our Stanley” rather than spreading it between all the different efforts that are being made; nevertheless I have great respect for those pushing ahead and getting off their arses to help “us” and our club, great or small they should be applauded but coordination should be the key target now. Money I’ve already committed to buying Wrist bands and Sparkies Bike ride will stand, the rest will be directly to the SOS and when I have some money to spend “the Shop”
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[quote=lancsdave;742236]I was asked what I thought about this tonight as an 'outsider'.
Outsider! Nay lad.....its getting under your skin. :) But you are right Dave.........Our actual downfall may well be of our own making. I'm hoping the the SOS will act as a war cry and bring people under one banner.......... |
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I think this (Shurm's point) is what David O'Neill meant when he said in the paper that we wanted the focus on fundraising to be with one organisation. There's clearly confusion on the street.
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Ideal scenario is that the club raise £300k and things continue. My only concern is if there is a shortfall, will the club guarantee that 100% of the money raised will go to the taxman or benefit the club and not go in someones pocket before they leave and the ASSF take over. If I knew for certain all the money would benefit the club I would do what I could to help but I just don't feel things are right at the club from what I've read, again this is my personal opinion.
I know people should all be pulling together in one big group to help the club survive but I also don't want to see people paying out hard earned cash for it to 'disappear' as it so often does or not be used for the purpose it was raised. Anyway good luck to those who have got off their backsides to do something I salute you, all to often the club has suffered because of that word apathy. Hope it all works out in the end one way or the other I don't really mind as long as the club keeps going. My views are my own if you don't agree then fine but were all on here as supporters of Accrington Stanley and I'm sure everyone wants the best for the club at the end of the day. |
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Shurm old son sometimes when things are this serious ya just gotta all pull together n go with it. IMHO.:)
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brief cos hammerd. Ihave took notes most of tomight and will post them up as soion fingers allow comprehension, 40 odd pertinent quetion were asked to prepare for war nd peace ,,,,
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So it's not an option for mr oneil yet it would save the club hmmmm who are we saving here ? Oneil or Accrington Stanley ?
How I see it simplified and Im more than likely wrong :rolleyes: Eric runs club into ground with large debts He runs it his own way and doesn't want to integrate the club into the community or local business money given to the club is not used as intended sells worthless club with debts to oneil eric disappears with big grin oneil left wondering what did I do club now need money to pay big tax bill Why does the club run so poorly and allow these debts to become so large in the first place ASSF formed got the money to pay the debt for a say in how the club works seems reasonable to me oneil will not accept money or help .... Why ? Club can be saved today if need be but oneil losses control and money, he made the decision to buy it though only a few month ago people of Accrington asked to find money to save the club but it's not the club it's oneil your saving he can save the club bur refuses the help Like I said my view could be all wrong and probably is but before you all start it's a forum and I've had my say if I wasn't passionate about the club I wouldn't write this. |
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You got it in one
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It’s the same argument in respect of the ASSF; if the this money that is available for ASSF/Khan is for the love of Stanley then it should be made available without conditions or at least handed over on the understanding that O’Neil gives the ASSF/Khan bid first refusal if he decides to cut his losses. Keep in mind that Mr. Khan already holds substantial Shares and it’s his money that we’re talking about here, the ASSF has now’t of its own
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If the club is to survive it needs to be part of the community again involved with business and the people of Accrington, it's too big to be one mans plaything any longer unless I win the lottery tonight :-) In truth the club can't run in the Football League with the numbers that attend and the wages and bills that need paying. I think the ASSF sounds a good idea but even with them on board if the club can't raise the money needed to run the club day to day I think it's time people accepted the town of Accrington can only really sustain a non league team. That's no disgrace and we might do ok again in the lower leagues but at least we will have a club...... What's better ?
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Forget the arguments as to whether this that or tuther with the ASSF money because that option remains in the background. The Don wants the football club to stand on its own two feet and with the help of its fans and its residents we are going to do that. When we have raised the money the club will be solvent again and will go from strength to strength. The Don stated that as a business we have standard month to month supplier debts in line with a company of our size. He said that the debt ran from 2005/06 season and amassed due to penalties (how ironic) and interest charges. As a trading business we do alright from month to month and make money (not said but inferred). So, for three years - forgetting the tax burden, we have competed as an FL team on and off the pitch. We just don't have the money or resources to be really competitive. Don't forget that as a club we are having to build the resources (community team, academy, commercial ops) that most of our rivals have had for years and years. It's a long slow process but we will get there. The big plus was when Rob Heys stated that if we shift the debt here and now we will effectively be plus £18k per month on the budget as set out for the rest of the season. This money can then be used towards continuing the building process, such as £18k spent on enhancing the clubhouse this month and then next month 18k on enhancing the commercial ops, and then the next month 18k towards buying better players ec etc. We shift the debt now, and then we'll see whats left of the club before we get too optomistic! (see thread on new stand) |
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Ok good points I just hope this is what happens.
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What i can't get my head round is why isn't the Don paying the debt, has he not got it? he said he's not throwing money in, fair enough, everyone has limits, but if he paid this debt off, which he knew about when he bought the club then it would be solvent now, might even start making a profit and he could draw his money back
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why have a dog and bark yourself springs to mind
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Hmmm good point, maybe he thought I'll buy this debt ridden worthless club and get the locals to pay it all back for me ........ Cunning ;-)
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At last someone who sees what I see!....Blackmail! |
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good post macca, yer far more eloquent than me, the point to me shurm is Stanley are a football league founder member, who i have seen vanish off the scene completly in 62, i have returned after a 40 yr abscence to follow what i never dreamed would be, i have no wish to see another demise, whilst i understand what yer saying Shurm theres probably 1500 or so more watched a sucessfull non league stanley, now they are fighting/ struggling to improve in league football, these people have evaporated, which makes me sad, it aint unique to stanley, but thats the way it is. i hope stanley remain a league club long after i have croaked.
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That is not what DO'N is about!....he is an honest guy with integrity!........Any bitterness should be directed else where, but now is not the time......... |
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I know what your saying I must hold my hand up and say for one reason or another I don't go games anymore were one time I went home and away. I hope what Macca has said happens and it does sound the best route if Mr Oneils intentions are like what he has been saying.
Lost touch recently with events just couldn't get my head round some of the alternatives to the club. Good luck to everyone fundraising...... See you all on Friday night then. |
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I'll ask one last question, then I'll leave this alone, does the ASSF have sight of 250k?, is it in their bank account? |
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it's been said before that ASSF has not got the 250k. It is underwritten by Ilyas that if the opportunity arose for ASSF to purchase new shares then he will provide a minimum of that amount.
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If the ASSF had control of the 250k then I think we have a basis for discusssion!........Due Diligence is always a get out clause, sorry but I'm still sceptical |
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and just as a final (old ground being covered etc) comment - ASSF are not demanding anything, it is not a hostile attempt at control.
We have merely presented one option to The Don. The option is there for him to take or leave at his discretion and at the moment he is leaving the offer on the table. It has been neither accepted or refused - it is just there. Rather than repeatedly discussing the ins and outs, merits or pitfalls we should just accept an offer is there and we should be grateful that there is an option. Besides which it was said last night that The Don now has other options (not necessarily good ones) on the table. |
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But at this moment it is not an option!...This is a game of Call my Bluff, and the good people of Accrington are the Pawns!....As the weeks go by the pistol being held to the Don's head becomes a Shot Gun! I really hope that the current board are approached with offers of assistance from an external source and I believe they will! Cart on Stanley! |
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in view of the fact ilyas is a member n has posted on here, i think it would be benificial if he posted on this latest development n explained in laymans terms, about why this 50% share issue is his only option.
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I have read a lot of misconceptions on here and elsewhere about the alleged motives of ASSF and Ilyas.
As I understand it: ASSF are proposing a public share issue equivalent to 50% of the club's issued share capital. ASSF would be underwriting it so they would only take up what shares the public (which might for these purposes include David O'Neill and other directors) did not subscribe to. What would be so power grabbing about that???? |
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That's the theory, let's see how reality pans out! |
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A 15k donation from every Premier League resolves the issues, friendlies with United, Liverpool etc etc bring in more revenue.....I believe National help will come!!!!!
I've offered my opinions and people have responded, but we are being used here!...... The parties concerned should discuss face to face, reach an agreement or dismiss it out of hand...... We are ALL fans and will come through this, by hook or by crook! |
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Jeff, where n what position would the club be in if the Don had not bought E.W. out?:confused:
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the budget (weeks ago) was designed with the 18k a month payment set aside. If the debt disappears here and now then there will be a surplus in monthly trading figures
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So what has happened to the loans that were made in order to pay HMRC?
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Shurm and Jeff are thinking like me.:)
Take the football passion out of what is a business problem....:confused: Why Do people describe Ilyas as BLACKMAILING the Don ?? He has contributed as much to ASFC as the Don has (word of mouth due to lack of accounts) BUT does not have any say in the running of the club. We are at a pivotal point in ASFC's future... ONE man and his ways got us into this mess. I worry that one man could do that again(Nothing personal I dont now the Don personally), but where a share option is BEST is that we have shareholder meetings and ONE man cannot rule to the clubs detriment. And things are a lot more public for the fans to see. Last night the Don asked us to trust his jugdement in this matter only a few minutes after admitting to buying a club up to its eyes in mess(2 months ago) ??? As an ASFC fan I say bring me the tin bucket to chuck money in !!!! As a business man I say who are we trying to save ?? |
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what i can't get me head around simon is the "Share Option" if it aint a "Power" fight, why is 25% share offer not n option? if it is a Power thing then i aint so sure it IS the best option.:confused:
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The Don has been involved with the club for long enough. He must have known about the debts and overall financial situation. He also knew what his own resources were. There seems to me to be a mismatch. I wonder how he planned to solve this mismatch. Where EXACTLY was the money going to come from? |
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basically i understood, the summer when club had no income coming in, they were used fer day to day running/ outgoings of the club, the money fer the loans is now back in bank as i understood Rob Heys saying, as fer mismatch rightly or wrongly they were working on premise that the tax could be paid oer 12 months, not 8 weeks, i will ask you the question i asked jeff, where would stanley be now if the don had not bought E.W. out?:confused: the possibilty does not fill me with excitement.
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Thanks for that, cashy.
So the money for the loans is now back in the bank. I wonder where that money came from. I have just re-read the item about John Glasson's loan on the fishy site. This is an interesting quotation : Allaying any fears of the club building up further debt David continued "John will be repaid in full in the next 12 months. Mmm?:confused::confused: I fear that the answer to your question about where would Stanley be had the Don not bought out EW is that we would be in the same predicament. |
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[quote=simon;742469]Shurm and Jeff are thinking like me.
Why Do people describe Ilyas as BLACKMAILING the Don ?? He has contributed as much to ASFC as the Don has (word of mouth due to lack of accounts) BUT does not have any say in the running of the club/quote] I have said that I feel that the ASSF/Khan bid feels that way.....But at the end of the day its about the club.....yes O'Neil could prove himself by paying the debt off; but then he would be in the same position as Eric was, it would be his club, his money.........his pockets could be filled to the brim, if the public bail the club out O'Neil won't be able to fill his pockets because the supporters and public wouldn't let him... Mr. Khan could also end this now by paying the debt and proving himself beyond doubt, he also is a major share holder and would also gain. For me O'Neil put his money down when others wouldn't (apart from Mr. Khan) he should be given our support for the benefit of the club...If he shafts us we can deal with him then, publicly. What I want to know is why Eric wouldn't and David O'Neil won't touch his money unless it’s the last resort to save the club and why hasn't Mr. Khan expressed himself on this occasion, he was extremely vocal last time….. |
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it was just on 2br about 30 mins ago, that E.W. had a few offers to sell the club, if that was the case then neither ilyas nor the don could do owt about his choice, the owner of owt rules simple as. E.W. felt the Don was the best hands to put club in, right or wrong thats the way it was, so therefore i must accept the owners right, n do me best to support the club through this crisis.
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it matters a great deal to me, the club was only going one way under the last regime, the financial mire is from 2006, and i am grateful someone else has took this task on. its gonna be hard, but it MUST be done.
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I think my tiny brain is just starting to get all this. Sorry ASSF people.
The 'controlling shares for ASSF' flag was raised most recently when macca posted in another thread: Quote:
Questions of David O'Neill are asked because not everything adds up. I completely empathise with Jeff when he posts his cynical view (that it was O'Neill's plan all along to buy the club and fundraise for a bail-out to make his investment worthwile, as he knew of the club's troubles before he took over). O'Neill has also made up a story (akin to the tricks of EW) that he has received an unconditional offer of help from another party (if it was unconditional, why not accept it straight off?!). There is also the furore over why the funds intended to pay the tax man were used elsewhere, and the ridiculous "I'll investigate why it hasn't been paid" comment. The O'Neill regime has polished the club up in its short time and no one from any party wants him to be removed, but it's pretty clear that he wouldn't invest the same amount of time or links or resources in the club without a controlling stake. Obviously the only beneficiary of this post is me and my basic grasp. If I've made any glaring mistakes I'm sure VALAIRIAN & co. will amend accordingly! :) |
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you may right shaker, meself aint so sure, my opinion fer what its worth is hes stanley through n through, bit like uncle jack was at rovers, only not as rich.:D if he was just a control freak, doubt if he would get his jacket off n help wi menial tasks like seating etc etc, i'm prepared at this point to give benifit of the doubt. which aint summat cashy normally does.:D
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At the end of the day David O'Neil owns the Lions share of the buisness, at this stage if we want the club to carry on we have to get behind him and back the SOS fund.
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My concern is that we won't get the most out of fundraising while there's all this confusion over the tax bill and what the club are saying about it. First it's "I'll investigate why the money hasn't been paid", next we're told the money donated went into the daily running of the club. Obviously hard core fans will do all they can to save the club but when there's contradictory statements being released the cause is compromised in the view of others.
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The only thing I think I'm sure of is that if a sane man wants his pockets lined, the way to do it is not, under any circumstances, to buy the most poorly supported (quantity not quality :)) club in the Football League.
So I'm not buying that conspiracy theory. Equally I don't believe Ilyas or the ASSF are blackmailing anybody. Personally, I will be putting some dosh into Save our Stanley, and if it comes to it I'll find some more to help the ASSF participate in any future shares issue. |
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Ditto in respect of both Camps....Money should go to the SOS because it the surest way of getting the club out of the ****e, I support the ASSF and I hope that when it comes to shares being issued I will not only chip in to the ASSF but I also expect to have the opportunity to buy shares of my own, but I fear that I will be denied that opportunity if any share issues is taken solely by the current ASSF/Khan bid. Don’t get me wrong; I’m not against the ASSF or Mr. Khan. I own my own business and I’m 50 grand In debt to it and will for the next three years, if someone came to me and said they will pay off the debt for a controlling interest in my business I’d tell the to sod off, it’s all my money that’s gone into it and for two solid years I’ve worked 7 days a week - 7.00 am to 11.00 pm, even after injury and ill health, I can understand how O’Neil feels, as well as the fans. Let’s give him some rope and hope that the ASSF and Mr. Khan make a gesture of good will financially, like someone as already said, let bicker about after we’re safe. |
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To answer Cashy 'Where would the club be now if DON had not bought EW out' I don't know, but I do know that the offer from ASSF was on the table to EW for a share issue to be made and ASSF would purchase a minimum of £250k but as far as I know EW never even acknowledged receipt. EW had made his mind up that he did not want anything to do with ASSF and only wanted somebody in who would purchase his shares and so he could leave Stanley with money in his pocket and Stanley with a massive debt. |
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He also said the money (20k and 25k) was in the bank, if it was given to the club to be used as payment for the HMRC then surely this should now be transferred into the SOS account
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I agree. There are a significant number of issues and answers which have not been forthcoming. OK, I did not attend the fans forum on Friday as I was in work so its my own fault for not being there. This is how I see it. Rob Heys seems to have gone from being whalleys puppet to O'neills. I accept as the clubs spokesman he is only following party lines. It is a tactic which deflects attention from O'neill. The problem with bailing out the club with the current owners still in town, how can we make sure they wont get us into the same mess again? This is not just an Eric whalley problem, its to easy to just be an Eric whalley problem. Yes, the improvements in communication and the employment of staff of the field to help build the club is encouraging but has long been over due. Its not revolutionary. I am fully behind SOS and will make a donation when pay day comes round, but I am dubious as to the ability of our new owner.. The truth is not fully out, its will now be hidden under an umbrella of 'only positive news storys and fund raising'. Despite my best attempts to show my support for SOS, I await the barrage of abuse for not buying the bull***t. |
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Posted via Mobile Device Im keeping an open mind atm as no other choice only thing i care about is stanley. Hate to say owt atm without having to eat my words later lol.
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And what concerns me even more,is that I can't come up with any answer which would satisfy this query!...and although Alfred.E. isn't...I am worried!!. |
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enough said one and all now now support the sos appeal
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