It's just the beginning for Spenda!, page-10357

Good question re SPXAM. Answer...: 80.5mio options related to the warehouse, 50% issued on closing, 50% to be attributed pro-rata of usage of the first $25mio. Following the announcement earlier this month, 46.7mio of these options have been issue, so that means 6.35mio attributed for usage, implying just under $4mio drawn. It's not in keeping with the $9mio reported in the previous 4C, and I cannot find anything to explain the discrepancy. The amount of options though suggest that they are still quite far away from a full usage. Re CC, I am not making any specific assumptions there. In my over simplified representation, it comes through as new lending. You can make your own assumptions on non-lending revenues coming through in the previous quarter, through CC or other leads.