Ann: Appendix 2A, page-4

The "Commitment Fee" is basically an upfront 50% of any money PFG lends to BUD, subject to a minimum of US$875,000.


Then repayment of this debt at maturity requires 1.5 times the principal and any accrued interest. Interest is 12.5%. This will compound to around 70% by maturity.



Then PFG gets another 3.5% back-end fee as well as 0.5% upfront restructuring fee.

All up this "restructure" looks like it will cost more than 124%.

Apparently, these are "commercial terms".