Ann: Appendix 4E and Full Year Statutory Accounts, page-79

yes $4.9mio will be released as cash when the exisiting portfolio is refinanced with the DW, and they will then pledge 10% as first loss. With an existing portfolio just under $20mio that’s $2mio. So $2.9mio roughly increase in cash for working capital. But then they will have to post additional cash as the DW grows, up to $5mio. Hence they won’t be able to use all e capacity of the DW as costs hit into cash. The problem remains the same. Lack of revenues. Too much costs. We need to see some surprise upside in payments and Saas revenues and what we have seen over the last few quarters does not look good there.