How Many Shareholders....?, page-9

The company has been woeful in the recent period of communication in providing up to date financial information of the sort that Next the Banks must have been getting as part of the Due Diligence process. Consequently, I do not have a good feel for how much equity is embedded in the GoGetta book - Next get the first $10m, and we share 50% thereafter. Last time we got info, I think, there was only about $22m of debt left in GoGetta portfolio, which suggests that the company should know down to the dollar what will be left to share, but we get no estimate of what this might be. I'm also concerned about references in the Scheme docs to it being net of "expenses", and references to their being other unforeseen costs. My experience with this company has not been good so, in the absence of better information, I am assuming that there will be nothing left after Next take their $10m.

Maybe I'm missing something but doesn't this actually mean that Next only pay $0.70c a share for about 80% of the company....ie about $22.4 m, but then also get the first $10m of GoGetta equity, so its all in to them for only $12.4 m???