On the Finding, guys, I am speculating here so don't go too hard on me. So here goes.
1. It would appear that the extra cash ($(4-5) million) would be needed this quarter.
2. NRZ is of the opinion that the Refundable Tax Rebate, although virtually guaranteed, might not be forthcoming this quarter (CS Note).
3. As a result of this they have raised $4 million against the forthcoming $5 million refundable tax rebate.
4. Who came to the party with the financing facility, who knows.
5. Maximum fees would be $500.00 establishment plus 6% of $4 million interest. Total of approximately $240,500.00. Rough figures.
6. If this loan has to run its full term (i.e., June 2023), NRZ will be under extreme financial stress.
IMO. J L.
General Discussion, page-101
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