Been out tonight so hope my brain is not too clouded to reply...

Been out tonight so hope my brain is not too clouded to reply Joe. You are right about the revenue and why collections are called liquidations. It should be noted that the top line on profit and loss statements for PDL companies is not the amount of collections received but a DCF calculation of the interest expected to be obtained from the PDLs held. That is why it is difficult to really establish what these companies are making as profits. One thing which should be noted by holders is that after the previous accounting debacle one should be able to accept that the discounted rates being used now together with the modelling and adjustments made for impairments are more in line with the regulators requirements and are meeting with the auditors approval. That being the case it is possible to gauge that the NTA for each share is approx 99c. My previous thoughts prior to the FY2020 accounts was that they might end up being closer to 75c - so KJ has beaten my messy calculations. I am trying to come up with some sort of profit % figure based on his presentation but I need to establish more info than it provides. I have invested in CCP below $18 so I have managed to get back most of my PNC losses. I do not think the industry stinks as much as some seem to - just hard to understand and make decisions about.