Global Brokerage Inc. (GLBR)

[Crusen]

Ok, this is not difficult for me.

I do not need remedial information such as the definition of an equity loan.

You should be able to show where the Newco assets are collateral in THIS Loan Agreement for your argument to be valid.

However, you can NOT do this because Newco is not a Collateral holding.

I know this because I have read and understand THIS Loan Agreement.

I am trying to help YOU work through YOUR difficulty in understanding this very basic concept.

Newco is NOT collateral.