pna value, page-4

As i have seen presentations from management and spoken to them a few times I am satisfied with the terms of the loan with GSJBW. Furthemore, management will run the operations on a very tight budget, these guys will be saving every cent to ensure they do not over expend. They are good operators and do not be suprised if the qtrly report is better than we all expect. Finally, let me assure you if GSJBW did not think PNA was worth a good return they would not be extending the loan term.