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It's not recurring that's the truth Loan income on...

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    It's not recurring that's the truth
    Loan income on short term lending products is not recurring revenue I'll say it till the cows come home

    They have $12m loan book at 21% yield
    $630,000 quarter of the income is loan income
    Take out the $500k one off last Q and they have circa $200k in recurring rev a Q that's it
    And the $2.5m in loan income is costing them $1.2m in costs
 
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