Ann: March Quarterly Appendix 4C, page-3

They're a lending company. In the last quarter, they gave 13.3 million dollars to merchants, ie, actual customers have made orders. Based on their activity report, they can reasonably expect 14.23 million in return no later than 6 months from now.

They have 0.3 of a quarter left because they can't meet the order demand; they still hold 3 million in actual cash. They can, in fact, continue to operate for much longer they just cannot grow any faster.

Please look at the Sept and Dec quarterlies as well. As customers have been paying, they have been able to increase their lending.

Their receipts from customers have been consistent between december and march. You'd expect even more in june (circa 7.5 mil) We'll see, I guess.

What do you propose they should have done with the money received from customers? I think that lending it out again has a slightly higher return than banking it, which it appears to me exactly what they've done. Shows me they have confidence in their lending policy, which is hardly a bad thing.. they've gone all in.