Global Brokerage Inc. (GLBR)

[Crusen]

Of course Newco is collateral, everybody knows that

I don't know that, and Robert Lande, CFO of FXCM does not "know" that.

Maybe Robert Lande knows something you do not?

Robert Lande - CFO

No, the right to -- it's annual right that starts in three years from January '16. And then have the right to, can trigger a sale of all or a portion of the business and it is not tied to whether the loan is repaid. So right now what our game plan is is to repay loan and grow this business into something more than what it is right now.

http://seekingalpha.com/article/2998256-fxcms-fxcm-ceo-drew-niv-on-q4-2014-results-earnings-call-transcript?part=single


"...and it is not tied to whether the loan is repaid."


Do you think Robert Lande is dumb, that he doesn't know what he is talking about.

Collateral by definition is tied to whether the loan is repaid.

So, Newco is not collateral. If you can't understand the Loan Agreement.