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Post# of 87366
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neilhk

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neilhk

Re: gempicker post# 5023

Thursday, 10/11/2007 8:56:28 PM

Thursday, October 11, 2007 8:56:28 PM

Post# of 87366
Certainly would like to hear more about the funding source and whether they have potential for more than one source, to spread risk.

I've been going though some documents to find references to the funding source and also the conduit lender with which they mentioned that they intend to merge. If anyone has any thoughts on the funding source/ institutional investor and the conduit lender I'd be interested to hear them, especially whether you think they are one and the same or different entities.

References to Funding Source

From Shareholders Letter of 27th August 2007:

"Second, the BCLOC represents a paradigm shift from traditional commercial lending philosophy that requires time and effort to gain the trust, acclamation and comfort of investors involved with a funding source."

"A potential funding source has advised us that the special purpose entity (SPE) that issues the BCLOC Securities has made changes in the structure to reflect the current credit market conditions and expects to offer direct pay “AAA” rated notes versus collateralized debt obligations or CDOs. Further, they have advised that the restructuring is expected to allow the funding source to offer BCLOC Securities at a substantial amount over the $300 million previously mentioned in the press release."

PR referrred to above is as follows:

http://heritagecapitalcreditcorp.com/sitebuildercontent/sitebuilderfiles/pressrelease22707_allocatio....

From recent WallSt.net Interview: Funding Source

"We have a new funding source and that funding appears to be imminent."

Longer Term Plan: Conduit Lender

"Plan to merge with a conduit lender to give the company direct access to more capital and different structures. This merger is expected to help us carry out and get to our plan to organise a bank."

GLTA



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