Um. Where do we start? You've been banging on about this for...

Um. Where do we start? You've been banging on about this for over a year, and you're completely mistaken with your numbers and assumptions. I mean that kindly. Really, you're just wrong, and if you're investing on these assumptions Im trying to help you out.

1. Do you know the difference between restricted and unrestricted cash in a Company?

2. Do you understand for every loan they write they need capital available to support the debt. That capital has a great ROI, but they actually still need to have it available or they cant keep writing loans. If they spend that cash trying to prop up a share price against a meltdown, then they might not be able to keep writing loans, or buy back loans if they need to.. which you know.. basically shuts the company down.

Factor those two things in. Then,

3. Make sure you understand the difference in between cash flow positive and EBTDA/Profit making.

Now, re-do your statement taking all that into account, and you might understand they've already USED half of the capital they raised, and will probably use another $5-$10M of it (making it circa $35M used), whilst still keeping a VERY HEALTHY, BUT VERY VERY MUCH NEEDED BUFFER to guide them through profitabiliy.

So you're wrong for these reasons, and Im glad you're not actually running one of these companies Im investing in:

Ultimatley :
1) They simply dont have adequate buffer of spare cash to manage what might be a RECESSION and RISING INFLATION and RISING CASH RATE, whilst still getting through profitability and paying us a dividend if they spend any of it on a buyback.
2) Actually doing what you suggest, and trying to use a bit of their cash to fight against a MARKET WIDE MELT DOWN would be beyong foolish, a useless exercise in short term thinking and ultimately put the whole company AT RISK of survival in this upcoming period.