# TIH - Tillegrah Limited



## Kylastar (29 August 2007)

From the Coretrack Website:

"Coretrack's primary goal is to introduce a new technology into the coring services business, known as the Core Level Indicator System (CLIS) . The CLIS will enable the positive and explicit indication and measurement of the acquisition of a core sample during a coring operation.

Our coring tool is expected to be of great interest to both Oil & Gas companies as well as the coring industry.

CORETRACK'S VISION
Be recognised as the leading initiator and supplier of innovative coring technology and services within the Oil & Gas exploration industry. 

CORETRACK’S MISSION 
• Facilitate a significant increase in the efficiency of acquiring core samples; and
• Provide high value, innovative coring technology to the world’s oil & gas industry to produce a profitable long term sustainable enterprise."

I'm a holder of these shares and they have performed quite well over the last week. My intention is to hold for the longer term. Is anyone else a holder and if so what are your thoughts?


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## smr (2 October 2007)

*Re: CKK - Coretrack Limited*

Kylastar - I am a medium term investor with interest in technical innovation.  I bought CKK when they had some type of internal falling out (now resolved and with a new GM), because I thought their basic tech concept a good one and they seem to have patents tied up for a niche technology product.

I figure that as oil resources get harder to exploit more holes per barrel will have to be drilled and this product (if it works) will help keep costs down.  The link to Halliburton subsidiary for field trials has given me some reassurance.


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## Gilbert (14 April 2009)

*Re: CKK - Coretrack Limited*



smr said:


> I figure that as oil resources get harder to exploit more holes per barrel will have to be drilled and this product (if it works) will help keep costs down.  The link to Halliburton subsidiary for field trials has given me some reassurance.




Yes agree and I personally believe the future of core drilling outfits (and those with innovative technologies in this field) are bright. Only the other day read this very interesting article about peak oil - http://financialsense.com/editorials/quinn/2009/0407.html


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## Gilbert (19 April 2009)

*Re: CKK - Coretrack Limited*



> I'm a holder of these shares and they have performed quite well over the last week. My intention is to hold for the longer term. Is anyone else a holder and if so what are your thoughts?




I'm not a holder but I'm seriously thinking of getting on board after a bit of investigation. 
Recent announcements re their collaborations with Halliburton & Baker Hughes and the success of their extreme environment testing makes them look quite attractive imo. Mainly though I just like their technology. If it's as good as it sounds then it'll surely be a small revolution in the coring sector? And the coring industry looks like it has a very healthy future, what with the need for more and more exploration. 
Anyone else got any opinions about Coretrak?

Gilbert


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## Gilbert (20 July 2009)

*Re: CKK - Coretrack Limited*

Am a holder now (just to disclose!) but over the last few days this stock has seen its highest volumes for 12 months. Options esp.  
Anyone heard anything? I know they have further testing imminent but could there also be a nice deal on the table?  
This is a good buy imo.


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## bandicoot76 (24 July 2009)

*Re: CKK - Coretrack Limited*

i bought some today as i heard they have bought out imdex, a company i have been watching for awhile, think this one has alot of potential and im considering loading up on it, havnt decided 100% yet though


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## bandicoot76 (1 August 2009)

*Re: CKK - Coretrack Limited*

please disregard my last post, imdex (IMD) pulled out of the merger at the last minute and CKK shareprice plummeted... oh well win some lose sum... wish i'd put my stop loss in place though DOH!


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## WiseMum (12 December 2009)

*Re: CKK - Coretrack Limited*

Anyone know the latest in CCKs progress in signing up customers?  They do seem to have great potential but, as a shareholder, I must admit to being a bit surprised when I heard they were going to be on the ABCs New Inventors program ... I had thought they were so close to commercialisation that appearing on a show like that was a bit strange.


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## bordercityfirm (19 December 2009)

*Re: CKK - Coretrack Limited*

Over the last 3 years CKK have been testing and developing their "coring while drilling tool"......3 years!

ANNOUNCEMENT 12 SEPTEMBER 2007

SUMMARY
• Field test carried out with the national oil company from one of the largest Middle Eastern oil producing countries;
• CLI retrieved from the well without incident and with no impediment to coring process;
• CLI (casing and electronics) performed to design and functional specifications;
• Minor problem with soldered joint in CLI battery pack identified and rectified – CLI ready for next test. Coretrack Limited is pleased to announce that its Core Level Indicator recorder unit (CLI) has
undergone its first field test on 15-19 August 2007. The CLI was used on a coring job carried out by a major oilfield service company on behalf of the national oil company from one of the largest Middle Eastern oil producing countries. The tool was used in an onshore well on a coring job carried out at a depth of 1975 meters at 77 degrees Celsius.
The CLI was used on two separate coring runs.
The first coring run was aborted 20 metres into the coring process due to a suspected core jam. On retrieval of the coring assembly only a small portion of the core sample was recovered. This was not a CLI related issue. The CLI was recovered undamaged and it did not obstruct the coring process.
On the second run, a full recovery of core was obtained. Again, the CLI was retrieved undamaged and it had not obstructed the coring process.
Both the outer canister of the CLI and the electronics handled the hostile well environment without problems. Due to a minor soldering connection issue in the battery pack, the CLI unit did not record a complete set of data. The connection has been redesigned to avoid future recurrence.
Coretrack is very pleased with the first field test results, as both the CLI casing and electronics operated without sustaining any damage in the hostile well environment. Moreover, this test also confirmed that the tool itself travelled freely within the inner core barrel without obstructing the core recovery process.

ANNOUNCEMENT
25 FEBRUARY 2008
SUMMARY
• Field tests carried out with support of Halliburton DBS in Oman
• CLIS Core Log Report software provides detailed core run data
• CLIS tool functions as per its functional and technical specifications
• No impediment to the coring process or well operations
The CLIS Recorder Unit underwent further field tests in the Sultanate of Oman in December 2007 on coring jobs carried out by Halliburton on behalf of two large oil & gas exploration and production companies in Oman.
Coretrack Limited (“Coretrack” ) is pleased to announce that a complete set of data was recovered from the recent field test. Data, presented in the form of the CLIS Core Log Report (see example below), provides details of core recovery into the core barrel in a time (hours) versus distance travelled (feet) format.From a very high level perspective, the data in the chart shows that between time 0 hours and time 6 hours the core barrel was being run into the well. The small movements in the graph during this period show that
the recorder unit was moving slightly up and down in the barrel due to the movement of fluid through the core barrel (as it was run in the hole on the drillstring). At time 6 hours the core barrel had reached the bottom of the well and coring was commenced. Over the next hour or so (between time 6 hours and time 8 hours) 17 metres of core was successfully cut and, as shown by the recorder unit, recovered into the core barrel.
The timings on the CLI Core Log Report corresponded exactly with the onsite coring specialist’s data, and a full 17 metres of core was recovered.
As with previous tests, the CLI Recorder Unit did not obstruct the coring process and both the CLI Recorder
Unit canister and the electronics operated perfectly in the hostile well environment.
Coretrack continues to make good progress with the development of its core barrel telemetry system – which will enable the signal from the CLI Recorder Unit to be transmitted to the top of the core barrel assembly and is further encouraged by the successful results of the CLI Core Log Report software.

ANNOUNCEMENT 11 NOVEMBER 2008
SUMMARY
• CLR records all displacement inside core barrel until maximum memory capacity reached
• CLR operates in line with functional and technical specifications in offshore, deviated well with
synthetic drilling fluid
• Apache to schedule use of CLR again
Further to its announcement of 21 October 2008, Coretrack Limited (“Coretrack” or “the Company”) has run its Core Level Recorder (“CLR”) with Apache Energy Limited (“Apache”) for the coring of the Reindeer-2
well, located in the North West Shelf of Western Australia.
The running of the CLR on Reindeer-2 proved successful and provided a number of “firsts” for Coretrack, including being:
i. the first run in Australia
ii. the first run in an off-shore well
iii. the first time the CLR has been run in a synthetic oil based drilling fluid
iv. the first well with significant deviation from vertical
The Company is pleased to confirm that the CLR performed as per its specifications, that the core recovery process was not impeded and that all CLR displacement data was measured and recorded. Due to differences in the coring equipment and drilling fluid from previous runs of the CLR, there was greater than expected movement of the CLR during trip in. All CLR displacement was recorded, which resulted in the CLR’s memory being filled before coring was initiated. A minor technical change will be made to the tool in order to address this issue. Coretrack has been advised by Apache that it intends to schedule the Company for provision of the CLR for its next coring job.

ANNOUNCEMENT 15 April 2009
SUMMARY
• Coretrack has significant breakthrough in temperature & pressure testing of its transducer
technology.
• Testing of full intermediate telemetry system in MTH-4 Mt Horner well (near Dongara) imminent.
Coretrack Limited (“Coretrack” or “the Company”) is pleased to announce that the Company has made a significant breakthrough in the development of its technology. The Company has successfully completed a series of pressure and temperature tests of the transducer used in the intermediate telemetry system of its Core Level Recorder (“CLR”).
The transducer has been tested from ambient temperature to 135 °C in 25 °C increments. At each test temperature, the transducer was also pressure tested between ambient and 8000psi. During temperature and pressure testing, four parameters were recorded. Of these, only one parameter was found to vary outside of tolerable limits, a variance which can easily be overcome by individually tuning the transducers. This tuning process will ensure optimal performance of data transmission from down hole to the rig floor.
To ensure the viability of the proposed spot temperature and pressure tuning method, Coretrack will be conducting further tests on the test transducer to ensure repeatability of these results. Coretrack will also test other, similar transducers to ensure comparability of results.
“These results are very significant and an exciting development for Coretrack – bringing the Company significantly closer to completion of a world first system that is able to transmit coring data to surface in real time”, said Mr. Nanne van ’t Riet, Coretrack’s CEO and Managing Director.
Following completion of the current tests, a field test of the intermediate telemetry system is planned at MTH-4 Mt Horner, near Dongara. This will involve lowering a 54 metre long inner core barrel (with the telemetry system inside) down a well until it is fully submersed. The inner barrel will be filled with drilling fluid, including suspended solids. Once fully submerged, the entire transmission up to the mud pulser will then be tested. This will be as close to a real well situation prior to Coretrack running the entire system in
 an actual operating well.
Coretrack is in close contact with a number of oil and gas companies and coring contracting companies to schedule a test run in an operating well as soon as possible following the completion of the tool.

ANNOUNCEMENT 11 AUGUST 2009
HIGHLIGHTS
• Coretrack successfully tests modified Core Barrel Telemetry (CBT) system in a retired ARC Energy
well in Dongara, Western Australia
• Coretrack now targets having complete Core Level Recorder System (CLRS) ready for “in-situ” field
coring job in October 2009
Coretrack Limited (“Coretrack” or “the Company”) (ASX code: CKK) is pleased to announce that it successfully tested the crucial measuring and recording components of its modified Core Barrel Telemetry (CBT) system in a retired ARC Energy well in Dongara, Western Australia on Monday, 10 August 2009. The modified system was tested over a distance of 27 metres.
Based on these latest test results, the Company is confident that this modified system will also accommodate much lengthier core barrel assemblies.
Coretrack’s CEO and MD Mr Nanne van ‘t Riet stated “With no existing product competition that progressively measures core intake into a core barrel in real time, Coretrack is in a strong position to provide the oil and gas industry with a unique, cost saving coring tool.’’ “Field testing of the modified CBT has now concluded following this successful testing.”
“The completion of this test is a crucial milestone for the Company, bringing the commerciality of the tool within tangible reach. The Company will now move to full integration of the entire CLRS in preparation for the first field coring job.”
As announced on 3 ugust 2009, Coretrack aims to have a complete CLRS (a system including a CLR recorder unit, CBT and surface telemetry) ready for an “in-situ” field coring job in October 2009.


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## bordercityfirm (19 December 2009)

*Re: CKK - Coretrack Limited*

HIGHLIGHTS
• Coretrack completes cutting edge, world first coring technology
• Discussions regarding potential corporate transactions gaining traction
Coretrack Limited is pleased to announce that after three years of meticulous R&D, building of the Core Level Recorder System (“CLRS”) has been completed. The tool completion follows years of dedicated research and development, as well as advanced bench and well testing of crucial tool components. During this period, the well testing was conducted with the assistance of a number of major national and international oil companies both in Australia and abroad.
The CLRS constitutes cutting edge technology for the oil and gas exploration sector and it is the only tool available that provides real time core acquisition data to the rig floor. The completed CLRS is currently undergoing final bench, heat and pressure testing. Managing Director, Mr Nanne van ‘t Riet said, “Years of hard work are coming to fruition; I am very pleased
that the tool is now complete and we can progress to running the fully integrated system in a well”.
The Company will now approach oil and gas companies to use this exciting technology in upcoming local or international coring work. Mr van ‘t Riet also noted, “the Company is continuing to make promising progress discussing potential corporate transactions with several third parties. If these discussions, which are currently gaining traction, can be concluded successfully, I feel that we have the potential to catapult the Company into becoming a major industry participantâ.


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## bordercityfirm (22 December 2009)

*Re: CKK - Coretrack Limited*

1.5% of the shares changed hands today so looks like something is in the air? 3yrs wait might just finally over....any thoughts?


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## maxmac (24 December 2009)

*Re: CKK - Coretrack Limited*

Hi BCF,

Must be getting close to announcement. People have had to chase the oppies and no one appears to be selling. Slow accumulation. Will be interesting to see what happens near end of the day. Which is an hour away.

Cheers
Maxmac


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## Miner (24 December 2009)

*Re: CKK - Coretrack Limited*

Share Quote as at 1:21 PM Sydney Time, Thursday, 24 December 2009
  CORETRACK LIMITED FPO (ORDINARY FULLY PAID)  	
Code	Bid	Offer	Last	Change*	% Change*	Open	High	Low	Volume	Trades	Value	News
CKK	0.265	0.280	0.265	-0.010	*-3.64*	0.280	0.280	0.265	97,000	8	26,575	 

Very interesting behaviour with CKK - low sales reduced price but fairly keen buyers and sellers - probably waiting for Christmas surprise

DNH


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## bordercityfirm (26 December 2009)

*Re: CKK - Coretrack Limited*

Miner and maxmac good to see you taking an interest in CKK and posting on here, it’s a lonely place!  Miner I've obviously liked reading your posts as I recognise your activator (as you can see I don't post a great deal on share sites).

You have stated DNH (do not hold?) so what gives you an interest in CKK? I would really like to know. I have had an interest since their first round of testing in late 2007 and have followed their progress (slow I might add). But like some of the bio companies who spend millions of dollars developing their product, there is no money to be gained until commercialisation.

I have held for a long time picking up on the dips and participating in the SPP and I'm now eagerly waiting a commercial deal. This commercial deal could be with anyone in the oil and gas industry form Chevron, to Baker Hughes Inteq. As Coretrack have been helped along the way by the oil and gas majors and coring service companies they now have a vested interest in their coring tool.

CKK nearly merged with Imdex earlier this year so they could be a takeover target as well in my opinion. I’m now fully loaded up and I’m interested why the pickup in volume of shares and discussion on forums like this?

Interested to hear your views?
BCF


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## Miner (26 December 2009)

*Re: CKK - Coretrack Limited*



bordercityfirm said:


> Miner and maxmac good to see you taking an interest in CKK and posting on here, it’s a lonely place!  Miner I've obviously liked reading your posts as I recognise your activator (as you can see I don't post a great deal on share sites).
> 
> You have stated DNH (do not hold?) so what gives you an interest in CKK? I would really like to know. I have had an interest since their first round of testing in late 2007 and have followed their progress (slow I might add). But like some of the bio companies who spend millions of dollars developing their product, there is no money to be gained until commercialisation.
> 
> ...




BCF

Thanks for your post and query.

First of all it is ASF code of conduct that we all disclose our interest on holding of a certain share when posting information on it. Every time declaration is not probably of importance but when IMO some one does make any comment on company information as additional bit, then it makes the slate clean to declare about holding.

To participate or to follow a thread I do not think one needs to hold it. So I do not understand why you have assumed that I need to be a holder of CKK.

I did hold CKKO and CKK first without having some good research and relying on the technical strengths of the product. But I sold out at loss and that was only because I would like to see some solid results from the testing by CKK. To me CKK product has lot of merits to make a revolution in oil and gas technology (I am however not a O&G technologist and have limited awareness on this subject). To me it is like a new medicine being trialled. If the trial of phase 2 and 3 become successful the medicine stock will strike through the roof. So if CKK proves its worth there will be few millionaires who trusted to hold for long time.

I do not have sufficient patience or spare cash to hold CKK. If I win tonight in Lotto then hey, I will buy lot many CKK and CKKO and keep in my bottom drawer for future.

But I have not won any Lotto so far and helped Western Australia through my Lotto investment . So I do keep a close eye on CKK website, ASX news and ASF forum to learn what is happeing there. 

Have I explained enough ?


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## bordercityfirm (26 December 2009)

*Re: CKK - Coretrack Limited*

Miner,

  Sorry I wasn't having a go at you at all (certainly not a "how dare you post on here if you don't hold").
 "You have stated DNH (do not hold?) so what gives you an interest in CKK? I would really like to know" ..........this certainly wasn't meant to sound as bad as it does.

I'm very much in favour of people coming here and sharing their veiws, sometimes the best views and questions are from those that don't have the blinkers of holding. 

Thanks for the response and merry christmas to you.


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## Miner (26 December 2009)

*Re: CKK - Coretrack Limited*



bordercityfirm said:


> Miner,
> 
> Sorry I wasn't having a go at you at all (certainly not a "how dare you post on here if you don't hold").
> 
> Thanks for the response and merry christmas to you.






Miner said:


> BCF
> 
> Thanks for your post and query.
> 
> ...




Dear BCF

Do not worry.

I did not take  your comments as negative. It is an open forum and we all have the rights to ask. So you did the right thing by asking and it falls on my court to clarify your query. So relax and enjoy 

I did say why I was and am interested on CKK in my previous post. I am summarising them. 

1. It claims to have solid technical strength to save lots of money for the exploration.

2. I invested in the past so I am still interested to see myself if I was totally wrong in the past to judge the opportunities

I have to go to attend a dinner with a family friend and my wife is just behind me to stop ASF and back to family forum . Bye for now


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## bordercityfirm (6 January 2010)

*Re: CKK - Coretrack Limited*

Did you manage to fill your boots miner? Looks lik something is happening, doesn't take much to move this little ozzie.


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## Miner (18 January 2010)

*Re: CKK - Coretrack Limited*



bordercityfirm said:


> Did you manage to fill your boots miner? Looks lik something is happening, doesn't take much to move this little ozzie.




Dear Border City Firm

Hope you are well
In spite of all so called good announcement CKK fell down by 10% today and look the volume today 1.5 mil shares changed hands, Friday was 1 Mil and before that was very low.

Should not the market be up side ? Who knows 

I do not hold any more being not convinced on the technical strenght as a product at this stage and DYOR

Delayed share price
Prices are delayed by at least 20 minutes. Retrieving any price indicates your acceptance of the Conditions.

Code Last % Chg Bid Offer Open High Low Vol 
*CKK 0.260  -10.34%  0.255  0.260  0.270  0.270  0.250  1,571,737  *


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## Lethality (16 February 2010)

*Re: CKK - Coretrack Limited*

I am new to options trading but I thought I had a good understanding of the basic principles, which is why I am confused here:
CKK is selling at 0.26
CKKO is a call option with exercise price of 0.20 and currently is has no takers at 0.03
Can someone explain to me why anybody would pay 0.26 for shares when they could easily get them for 0.23? Is there any reason why I couldn't buy some options at 0.03, then exercise them and sell the shares for a profit? It seems pretty simple to me so I wonder why nobody else is doing it.


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## Gilbert (10 March 2010)

*Re: CKK - Coretrack Limited*

Up 12% today - healthy volume, Directors buying in, more capital raised, still only 80 million odd shares, and a general positive buzz around this company. Can see this taking off now.


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## Chief Wigam (9 October 2010)

*Re: CKK - Coretrack Limited*

In trading halt.
Capital raising at 15c for $2.8 million.
This comes after a recent capital raising for $2.5 million.


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## absolute1 (29 November 2010)

*Re: CKK - Coretrack Limited*

out with presentation, looks interesting, also has contract with WPL

http://imagesignal.comsec.com.au/asxdata/20100802/pdf/01084856.pdf


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## ParleVouFrancois (30 November 2010)

*Re: CKK - Coretrack Limited*

CKK has the technology for a drill for Geothermal or Oil drilling that is vastly superior to current technology. 

At the risk of sounding like a badly written Brochure, here's my summary of CKK's drill.

Dare I compare it to MHM in that is has industry changing technology potential, on all parameters the GT3000 (CKK's drill) outperforms conventional drills, including fuel efficiency, replacement of drill bits (these can individually run into the tens of thousands), number of operators required etc, to even the size of the thing, takes much less money and time to mobilize. The actual drill can switch between air hammer and conventional drilling, with air hammer faster for softer ground (if I recall correctly), and the ability to switch between the two modes rapidly, CKK's drill can drill a the same distance for less time and cost, both on average and in total.

The cost of construction one GT3000 is approximately 3.3 million according to company documents, with revenue of approx 14 million for contracting it at a 50% utilization rate out that's over a 300% return p.a. on money invested. 

I hope I've got whoever reads this interested in CKK's story, as opposed to mindlessly buying it due to some kid on the net writing about it, DYOR and you'll probably come to the same conclusions as me (if not don't buy, no hard feelings ).

This really sounds too good to be true, and it just might be (firepower etc come to mind) so if you do end up investing, keep it to a smallish spec level, not an all in.


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## skc (1 December 2010)

*Re: CKK - Coretrack Limited*



ParleVouFrancois said:


> CKK has the technology for a drill for Geothermal or Oil drilling that is vastly superior to current technology.
> 
> At the risk of sounding like a badly written Brochure, here's my summary of CKK's drill.
> 
> ...




Interesting... MCE is a similar company but with proven products and track record. They are also priced accordingly however.


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## basilio (1 December 2010)

*Re: CKK - Coretrack Limited*



> This really sounds too good to be true, and it just might be (firepower etc come to mind) so if you do end up investing, keep it to a smallish spec level, not an all in  _   Parelvouz_




It's certainly not a Firepower con Parlevouz.  A bloody big mining drill will quickly demonstrate what it is capable of and this one is now built and operational. 

It will be very interesting to see how this flies. Certainly worth a punt. I'm in.


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## ParleVouFrancois (1 December 2010)

*Re: CKK - Coretrack Limited*

Just all part of my disclaimer  I wouldn't want this to go south and have someones life savings on me, even if I'm not to blame really.


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## basilio (4 December 2010)

*Re: CKK - Coretrack Limited*

Just had a look at the MCE thread which is also going particularly well. Seems as if MCE also services the mining and engineering sector.

I think that if CKK's gear is as good as it appears it will also explode into the marketplace.  There are obviously excellent margins in the industry and plenty of demand given MCEs full order books. At 22c CKK is (hopefully) an absolute bargain.


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## Thommo87 (28 January 2011)

*Re: CKK - Coretrack Limited*

After a rough couple of days, CKK jumped nearly 20% yesterday

Good to see the SP on the up again. 

/massive bump/


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## basilio (24 February 2011)

*Re: CKK - Coretrack Limited*

Sharp jump today with a couple of large buys.  Maybe there is some positive news coming. (certainly about time...)


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## basilio (3 March 2011)

*Re: CKK - Coretrack Limited*

Good announcement today by CKK.  Seems as if management is in close discussions with a number of Geothermal and Oil & Gas companies on hiring the rig.  They are amalgamating their offices to a much larger location AND saving $258,00k a year rent and finally the CLSR component on the GT 3000 has been much improved.

Nice little boost to the SP..

Let's see some contracts 

http://newsstore.fairfax.com.au/app....au/apps/qt/quote.ac?code=ckk&submit=Go&f=pdf


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## basilio (9 March 2011)

*Re: CKK - Coretrack Limited*

Perhaps the March 3 report is starting to circulate and/or there is action at CKK.

Shares have jumped 25% in 5 days and up 10% this morning. Some quite strong buying pressure . Over 2 for 1  All good.


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## basilio (10 March 2011)

*Re: CKK - Coretrack Limited*

Surely something imminent has to happening with Coretrack. On a day when(almost) the whole market and in particular the small caps are falling steeply CKK manages a 15% rise and is still rising at the end.


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## basilio (30 August 2011)

*Re: CKK - Coretrack Limited*

New CEO for CKK. Hopefully will put a rocket up the company.

Shares price lifted in the last 2 days from 8c to 10.5c with some good volume so a few people  think there will be action.

http://newsstore.fairfax.com.au/app...rkets.theage.com.au/apps/qt/quote.ac?code=ckk


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## System (1 June 2015)

On June 1st, 2015, Coretrack Limited (CKK) changed its name and ASX code to LWP Technologies Limited (LWP).


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## JimBob (7 October 2016)

Going by the posts on this thread, its fairly safe to say not many on here may be following this stock but may be one to keep an eye on - not for investing in but watching the fallout.

In a nutshell, over the last 12 months:
-  the directors have been caught by the ASX owning and transacting in LWP shares undisclosed to the market resulting in a suspension and forced sale of these shares.  
- Around $500,000 went missing from a capital raise but through two employee loans of $250,000, which haven't been paid back, the books seem to balance. 
- the company announced a $1.6million investment into a Graphene Battery technology which they claimed would be worth $1billion within 12 months.  Investors smelt a rat straight away and uncovered this as a scam which ended up in the company terminating the JV two months after being informed on this information by shareholders
- Very recently, the company had a line hidden in their Annual Report where they had made a $500,000 investment in Franchise Retail Brands which is a coffee and food venture.  The directors of this new company just happened to be the LWP directors, who had made an undisclosed related party transaction which was cancelled by the ASX.

It is playing out a bit on HotCopper, some shareholders appear to have banded together to investigate legal options and appear to have lodged complaints with the ASX, ASIC and the Qld Police.  Worth taking a look at
http://lwp.coolpage.biz/ and signing up for anyone interested in following the story.  Seems some directors or insiders have signed up to HotCopper to try and put out some fires.  

How this will all play out is anyone's guess.  The company did have some promising proppant technology which seems to have been lost now.


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## JimBob (1 March 2017)

Still some interesting events taking place with this company.  Fortunately I do not hold but have followed the story out of interest just to see how much a company can get away with these days.  Seems like quite a lot.  I have read a couple of articles sent out by shareholders about a court case they are in with their former JV partner.  The technology they invested in turned out to be a lab full of soft serve ice cream machines!  The website has changed to http://lwp.host22.com

Some interesting events in the court case.  Seems the LWP Technologies directors signed the JV agreement when they were not authorised to do so and their lawyer backdated a company form by 3 months to try to validify the agreement.  From what im reading, it appears they have given several hundred thousand dollars to a russian guy and possibly no grounds to retrieve it.


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## JimBob (13 June 2017)

http://lwp.host22.com/media-articles/
*LWP Technologies: Shareholders seek answers over fracking tech firm’s lost millions in value*
It is a tale of intrigue involving millions in lost shareholder value, radical new technologies and a failed joint venture with alleged links to a member of the Hells Angels.

*Key points:*

LWP’s shares are almost worthless
Investors are calling for ASIC to investigate
LWP’s market capitalisation has dropped from $40 million in mid-2015 to $6 million today
Disgruntled shareholders have accused Brisbane-based firm LWP Technologies of destroying millions in shareholder value without producing any income.

LWP persuaded investors that its fly ash-based proppant — tiny balls used to keep fissures open when fracking — was a game-changer for the industry.

But now the company’s shares are almost worthless and investors are calling for the Australian Securities and Investments Commission (ASIC) to investigate.

*‘It seemed like a no-brainer’*
Perth-based Brad Chapman has worked in drill and blast mining for 20 years. He spent $650,000 on LWP shares, making him one of the ASX-listed firm’s biggest investors.

“Fly ash was an abundant resource, cheap, and the technology these guys said they had to be able to turn this into proppants made it much better than what was on the market for the price you could get it at,” he recalled.

“It seemed like a no-brainer — it looked very impressive.

“I’ve come to the conclusion they’ve not actually produced anything.

“If everything they predicted came true it should have been a real goer.”

He sold his shares last year, making a $240,000 loss.

LWP’s market capitalisation has dropped from $40 million in mid-2015 to just $6 million today.

The company’s shares are almost worthless, fetching just 0.1 cents, down from highs of 30 cents a share in 2009.

EMBED: LWP’s share price highs 2007-2017.
*ASX confirms complaints from shareholders*
The company’s chairman, Siegfried Konig, told the ABC he was the second-largest LWP shareholder and had seen the value of his shares drop from $3.8 million to $350,000.

“Therefore, my holding and that of the other directors is 100 per cent aligned with LWP shareholders, and the board is making every effort to restore that value,” he said.

The ASX told the ABC it had received many complaints from investors.

“LWP is a company whose issues have exercised a lot of ASX’s attention. We have made multiple enquiries and taken a range of actions within the scope of our power,” it said in a statement.

The ASX is also concerned about the management of the company, having recently required LWP to appoint independent directors and an independent governance expert.

*Company has no obvious source of income*
Tony from Brisbane spent $30,000 on shares in 2015, but sold out last year when he became increasingly concerned about a lack of progress and some of the company’s investments.

“I was looking for a long-term hold, it had pretty promising technologies, but management — there were too many red flags for me,” he said.

LWP has no obvious source of income as it is yet to go into production or sell any product. It has not turned a profit since 2013, when it got a tax rebate, and posted a $7.6 million loss for the half-year to December 2016.

“They’ve alluded they’ve had contracts coming up in the works, but nothing has materialised over the last two years,” Mr Chapman said.

The company appears to have survived by raising funds through issuing new shares, including $6.6 million in 2015, and a further $6 million from Lanstead Capital in 2016.

Mr Konig said the proppant product is ready for commercialisation, but the drop in the oil price has led oil and gas companies to cut back on capital expenditure.

But now, according to company accounts, the company has just $1.1 million in the bank, and the ASX has estimated LWP has cash outflows of $880,000 for the next quarter alone.

The dismal figures did not affect Mr Konig’s wages — he was paid $430,000 last financial year.

“I think they’re just milking it out now and they’ll just close shop when that money’s gone,” Mr Chapman said.

With no income, the ASX was concerned the company would fold, so it sent a “please explain” letter in mid-May.

Mr Konig responded to the ASX with a statement saying the company was taking steps to achieve positive cash flow, including halving the pay of senior executives.

*Failed venture lands in court*
Investors have accused management of making a raft of mistakes, including a failed joint venture with rechargeable battery technology company GraphenEra, which has ended in court.

LWP spent $1.6 million and handed out 30 million shares to acquire 50 per cent of the battery patent.

The scientist behind the invention, GraphenEra director Victor Volkov, planned to set up a laboratory in Thailand to produce the graphene battery, which he claimed would compete with lithium batteries.

LWP is now suing GraphenEra, alleging Mr Volkov mismanaged funds, and is seeking to cancel the joint venture and recover $770,000 and 30 million shares.

Supreme Court documents show LWP sent a representative to Thailand, Bruce Dwyer, who said the laboratory, rented by Mr Volkov, “was in fact at that stage an empty shed, factory that had been rented”.






	

		
			
		

		
	
PHOTO: Investors say this photo, leaked to an investor chat site, shows the Thai laboratory. They say they want to see more photos of the lab’s progress. (Supplied)
Mr Chapman said he believed LWP did not have sufficient controls over the running of the joint venture.

“My thinking on it is that the directors were absolutely incompetent to go ahead with it,” he said.

But Mr Konig disputed that assessment, saying an independent third party introduced the board to the project, which had the potential to make LWP a very valuable enterprise and that he “personally saw the lab construction in progress”.

*Joint venture company has alleged links to bikie gang member*
Last year Mr Volkov submitted a patent, naming a close relative as an inventor, to the patent office.

Police allege this family member is a patched member of the Hell’s Angels.

LWP met with Mr Volkov and his relative as part of its due diligence.

“The principal scientist assured the board that his relative had absolutely nothing to do with GraphenEra,” Mr Konig said.

A number of former LWP shareholders have made complaints to the Queensland Police, ASIC and the ASX, and are now considering a class action.

“These guys are downright greedy,” Tony from Brisbane said.

“ASIC’s done nothing and you complain to them and it’s a black hole. Information comes in and nothing goes out.”

ASIC declined to comment.

*Investors criticise a range of LWP’s decisions*
Investors have criticised a number of LWP’s decisions, including LWP investing $500,000 in a retail chain run by its former CEO Sean Corbin, who resigned from LWP in November 2016.

Mr Konig was also previously listed as a director of this retail company.

While Mr Konig said the company did nothing wrong, the ASX forced LWP to undo the deal.

The ASX also forced Mr Konig and Mr Corbin to sell shares issued to their children, with profits to be donated to a charity.

LWP executives were forced to sell 41 million shares acquired when LWP bought Mr Konig’s private company Ecopropp.

Mr Konig conceded “some of our previous company secretarial matters could have been handled better”.

The company was also caught out claiming it had independently tested its proppants, but in March was forced to write a retraction, blaming its investor relations team.

The testing had been done by LWP’s former chief scientist.

“The accusation that testing was not independent is entirely false and without foundation,” Mr Konig said.

Investors have also criticised LWP for making a $300,000 loan to a traffic signalling company Omnet, which went bust soon afterwards.


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## Garpal Gumnut (13 June 2017)

Someone at ASIC or the ASX needs to be fired and both organisations sued by investors of LWP.

The money is gone, I'd guess.

gg


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## PZ99 (14 June 2017)

They have just enough funds left to grow some pot with the benefits of reduced pain therapeutically and in the wallet.


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## JimBob (14 June 2017)

Yeah, could be a good case for negligence for the ASX although ASIC has legislation that allows them to "ignore" some complaints and choose which ones they investigate.  Who from ASIC determines whether something is in the public interest?


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## JimBob (23 November 2018)

https://www.smh.com.au/business/com...asy-on-suspect-directors-20181116-p50ghv.html


*PM Morrison's right hand man lashes ASIC for going easy on suspect directors*

*By Richard Baker*
17 November 2018


Australia’s corporate regulator will not take any action against directors linked to alleged undisclosed share placements, stock price manipulation and misleading statements at an ASX-listed company that caused investors to lose $40 million.

In addition, senior executives from the Australian Securities and Investments Commission have admitted that the regulator may not act even when there is strong evidence to suggest breaches of law, saying aggrieved investors had the option of private litigation.






*BANKING ROYAL COMMISSION*
*'We're not perfect': Regulators admit mistakes, promise to get tough*

Over the past year, as serious concerns emerged about the actions of a handful of LWP’s past directors, a host of federal politicians - including Scott Morrison during his time as treasurer - have raised the company’s problems with ASIC.

ASIC’s senior executive, Warren Day, told a federal parliamentary committee in August the regulator had received information about alleged “insider trading, undisclosed related party transactions, manipulation of the share price… and misleading statements” involving LWP.

The ASX in 2016 queried LWP over breaches of disclosure rules in relation to share placements with shell companies associated with LWP's former chief executive, Sean Corbin, former chairman Siegfried Konig and members of their respective families.

The share placements occurred without LWP seeking shareholder approval and the ASX required all shares acquired through this process to be sold within a month and the proceeds donated to a registered charity.

The ASX also questioned a large share placement arrangement with an external company associated with Mr Konig.

A failed $770,000 investment in an Indian-based joint venture and shares issued to key staff shortly before the joint venture was announced to the market was also raised with ASIC.

Despite the serious allegations, Mr Day has said ASIC will not be pursuing anyone associated with LWP because of a lack of documentary evidence to support proceedings against the persons of interest.





Mr Corbin, the former chief executive of LWP, went on to found failed Brisbane company Franchise Retail Brands. LWP's former chairman Siegfried Konig was also a founding director of FRB.

FRB went into administration in January. Mr Corbin then registered a new company called Phoenix Franchising Pty Ltd.

Mr Corbin said ASIC's decision not to pursue him and other former LWP directors showed the allegations made being made against them could not be substantiated. He did admit there were some corporate governance issues at LWP during his time there, mostly relating to the placement of shares with adult children.

"There were some minor breaches. We were slapped over the hands and we rectified our corporate governance policy," he said.

Advertisement
Mr Corbin said he was disappointed Mr Irons had made his comments at the committee hearing without speaking to him or Mr Konig. He also felt confident ASIC would not be taking action in relation to events at FRB.

Mr Konig did not respond to inquiries. He has previously said he personally lost more than $2 million in LWP's downfall.

Mr Day told Senator Hume in writing that ASIC was still assessing allegations of FRB’s “alleged illegal phoenix activity”.


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## Ann (10 January 2019)

....and then they did a share Consolidation while in suspension. Post Consolidation appears to be 29 January 2019. 1 for 2 Consolidation.

*WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital. Better value elsewhere.*


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## JimBob (12 January 2019)

Ann said:


> ....and then they did a share Consolidation while in suspension. Post Consolidation appears to be 29 January 2019. 1 for 2 Consolidation.




Are you or were you a shareholder of this company?


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## Ann (13 January 2019)

JimBob said:


> Are you or were you a shareholder of this company?



No thank goodness JimBob, I just pick these things up looking through the daily ASX notices.


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## JimBob (13 January 2019)

This company has been suspended since August 2017, not sure if it will ever trade again.

The directors involved may end up with jail time once all is done and dusted.


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## Ann (13 January 2019)

JimBob said:


> This company has been suspended since August 2017, not sure if it will ever trade again.
> 
> The directors involved may end up with jail time once all is done and dusted.




I bet they don't JimBob, some of the stuff these companies get away with is just breathtakingly wrong on so many levels but it is all done under the protection of this or that ASX Listing Rule. It looks like they are trying to blow life into this bit of junk with a share Consolidation, mind you a 1 for 2 is on the more generous side to some I have seen lately, followed by a share placement of millions of shares and a new name.

_RESOLUTION 5 – CONSOLIDATION OF CAPITAL  _( ie. legally steal half your holding persuant to section 254H of the Corporations act)
_To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
"That pursuant to section 254H of the Corporations Act and for all other purposes, the issued capital
of the Company be consolidated on the basis that:
(a) every 2 Shares be consolidated into 1 Share; and
(b) every 2 Options be consolidated into 1 Option; and
(c) every 2 Performance Rights be consolidated into 1 Performance Rights
and, where this Consolidation results in a fraction of a Share or an Option or a Performance Right
being held, the Company be authorised to round that fraction up to the nearest whole Share or Option
or Performance Right (as the case may be)."

RESOLUTION 4 – APPROVAL OF PRIOR ISSUE OF ORDINARY SHARES – PLACEMENT
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That, for the purposes of ASX Listing Rule 7.4 and for all other purposes, the Company approves
and ratifies the prior issue and allotment of *21,000,000* ordinary fully paid Shares at an issue price of
$0.002 as specified in and on such terms and conditions referred to in, the Explanatory Memorandum
accompanying this Notice.”

RESOLUTION 6 – APPROVAL FOR THE ISSUE OF NOTE CONVERSION SHARES
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That, for the purpose of ASX Listing Rule 7.1 and all other purposes, Shareholders grant approval for
the issue of up to* 62,500,000 *fully paid ordinary shares (Note Conversion Shares) at an issue price
of $0.004 per Share on a post-consolidation basis to professional and sophisticated investors upon
conversion of their Loan Notes to raise funds to meet working capital requirements of the Company”.
RESOLUTION 8 – RELATED PARTY PARTICIPATION IN PLACEMENT – MR DANIEL JOSEPH LANSKEY
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That, for the purposes of section 195(4) of the Corporations, ASX Listing Rule 10.11 and for all other
purposes, approval is given for the Company to issue up to *25,000,000 Shares* (being Note Conversion
Shares) and up to 25,000,000 free attaching unlisted Options to Mr Daniel Joseph Lanskey (or his
nominee) on the terms and conditions set out in the Explanatory Statement.”
RESOLUTION 9 – RELATED PARTY PARTICIPATION IN PLACEMENT – MR ANDREW NORMAN SPARKE
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That, for the purposes of section 195(4) of the Corporations, ASX Listing Rule 10.11 and for all other
purposes, approval is given for the Company to issue up to *25,000,000 Shares *(being Note Conversion
Shares) and up to 25,000,000 free attaching unlisted Options to Mr Andrew Norman Sparke (or his
nominee) on the terms and conditions set out in the Explanatory Statement.”
RESOLUTION 10 – RELATED PARTY PARTICIPATION IN PLACEMENT – MR DAVID WALLACE CLARK
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That, for the purposes of section 195(4) of the Corporations, ASX Listing Rule 10.11 and for all
other purposes, approval is given for the *Company to issue up to 25,000,000 Shares* (being Note
Conversion Shares) and up to 25,000,000 free attaching unlisted Options to Mr David Wallace Clark
(or his nominee) on the terms and conditions set out in the Explanatory Statement.”
RESOLUTION 11 – APPROVAL OF 10% PLACEMENT FACILITY
To consider and, if thought fit, to pass the following resolution as a special resolution:
“That, pursuant to and in accordance with ASX Listing Rule 7.1A and for all other purposes,
*Shareholders approve the issue of equity securities up to 10% of the issued capital of the Company*
(at the time of issue) calculated in accordance with the formula prescribed in Listing Rule 7.1A.2 and
on the terms and conditions referred to in, the Explanatory Memorandum accompanying this Notice.”


......_and then having done that
_
RESOLUTION 13 – CHANGE OF COMPANY NAME
To consider and, if thought fit, to pass the following resolution as a special resolution:
“That in accordance with section 157 of the Corporations Act, the name of the Company change from
LWP Technologies Limited to *Tillegrah Limited."
*_
They have a shiny new web site all ready for the name change and bullsh!t. A place for videos as well.....YAY! http://lwptech.com/

.....and then we will have the little folk who pop in for a few posts to tell us what a gem this is and how much money we will make if we buy into their you-beaut story of some health care/EVs/infrastructure related crap or whatever their flavour of the reincarnation is this time. Then Mr. Clarke will design a lovely stairway to heaven and off we go again!

It might be the sweet little Andrew Norman Sparke _who has extensive experience in Equity Capital Markets, capital raising and corporate advisory services_, who will come and have a chat and tell us how fab it will be this time around under their new name. I wonder what he will call himself?

I will always see you as wee Andy, darling!


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## JimBob (16 January 2019)

They also did a 70:1 consolidation a few months ago so effectively a 140:1 consolidation.  

The LWP shareholders website is a much better read:
http://lwp.host22.com/


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## Ann (17 January 2019)

JimBob said:


> They also did a 70:1 consolidation a few months ago so effectively a 140:1 consolidation.
> 
> The LWP shareholders website is a much better read:
> http://lwp.host22.com/




As I said, legal theft. Those "LWP Shareholders Against Wealth Destruction" are just wasting their time. There are two ways to combat this. First is to change the corporations act, good luck with that one. The second is to make as many people as aware of this immoral, unethical, let's just do a dictionary of adjectives...._ 
amoral, unprincipled, unscrupulous, dishonourable, wrong, dishonest, deceitful, disreputable, unconscionable, fraudulent, dirty, unfair, underhand, devious, slippery, bad, wicked, evil, sinful, iniquitous, corrupt, depraved, villainous;
unprofessional, improper, unseemly, unworthy, negligent; shady, crooked, not cricket;dodgy....... _
behaviour by naming and shaming the companies and the people responsible as I am trying to do here. May their crap companies never rise again! We need to all group together and work to destroy these unscrupulous leeches of the markets.

Here is the relevant Corporations Act 2001

* CORPORATIONS ACT 2001 - SECT 254H *
*Resolution to convert shares into larger or smaller number*
            (1)  A company may convert all or any of its shares into a larger or smaller number of shares by resolution passed at a general meeting.

Note:          The variation of class rights provisions (sections 246B-246G) may apply to the conversion.

            (2)  The conversion takes effect on:

                    (a)  the day the resolution is passed; or

                    (b)  a later date specified in the resolution.

            (3)  Any amount unpaid on shares being converted is to be divided equally among the replacement shares.

            (4)  The company must lodge a copy of the resolution with ASIC within 1 month after it is passed.

            (5)  An offence based on subsection (4) is an offence of strict liability.

Note:          For *strict liability *, see section 6.1 of the _Criminal Code _.


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## System (1 February 2019)

On January 31st, 2019, LWP Technologies Limited (LWP) changed its name and ASX code to Tillegrah Limited (TIH).


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