appendix 4c

My understanding is that there is 20% interest on the $1.8 mill bridging loan from Och Ziff not shown in this cash flow statement. This is because the 2nd and 3rd tranches of the convertible bonds were not taken up by Och Ziff which is why they resorted to the very curious $5 mill equity line of credit from Chimaera. Why anyone would buy $5 million worth of shares in a company valued at $ 300,000 is anyone's guess.