Sorry for the duplicate code - it posted wrong the first time
<ul class="recent-posts">
<!-- LOOP START -->
<?php $the_query = new WP_Query( 'showposts=5' ); ?>
<?php while ($the_query -> have_posts()) : $the_query -> the_post(); ?>
<!-- THIS DISPLAYS THE POST THUMBNAIL, The array allows the image to has a custom size but is always kept proportional -->
<li><?php the_post_thumbnail( array(100,100) );?></li>
<!-- THIS DISPLAYS THE POST TITLE AS A LINK TO THE MAIN POST -->
<li><h3><a href="<?php the_permalink() ?>"><?php the_title(); ?></a></h3></li>
<!-- THIS DISPLAYS THE DATE/AUTHOR META DATA -->
<li><span class="featured-data">Posted by <?php the_author_posts_link(); ?> in <?php the_category(', '); ?> | <?php the_time('F d, Y'); ?></span></li>
<!-- THIS DISPLAYS THE EXCERPT OF THE POST -->
<li><?php the_excerpt(); ?></li>
<!-- READ MORE LINK -->
<li><a href="<?php the_permalink() ?>" class="read-more">Read More...</a></li>
<hr />
<?php endwhile;?>
<!-- LOOP FINISH -->
</ul>