Why is all cash Level II? Have not seen any other company; Muddy believes this is a major red flag... Asked about conviction level relative to Sino Forest? Expects a similar outcome to Sino short; believe similar in terms of the amount of business it has that is 'real' is a tiny fraction of what it claims... Believes there is a good chance of auditor resignation; says auditors do not like to do this but believes it will be hard not for them to do that... says Q&A was 'standard playbook'; says co failed to ask why it did not have $1 in Level I assets... denies claim that Muddy Waters firm is racist... says 'there are some interesting stuff there'... asked if shorting any other Chinese companies and Mr Block says 'at this time we are not ready to discuss that'.