SUB ITEM 77C:

The  Registrant  held its Annual  Meeting of  Stockholders  on May 26, 2005.  In
addition to the annual election of Directors,  shares of the Registrant's common
stock  were  voted  on the  following  proposal  presented  to the  Registrant's
stockholders:

To  approve  the  Investment  Advisory  Agreement  between  the  Registrant  and
Hottinger Capital Corp.

            FOR                        AGAINST                    ABSTAIN
            ---                        -------                    -------
         19,829,399                    621,653                    194,403