Banro Corp. fka BAA

[braised007]

The write down of the Namoya asset didn't affect the LT Laibility account on the BS. The $40M less was due to them paying off the liquidity backstop agreement. A full explanation of the Long Term Debt line on the BS can be found on page 17 and 18 here: http://www.banro.com/i/pdf/2015-Q2.pdf

You'll also see that on page 6, in the CFS, it says "net proceeds from non-equity financing" was $36M...but they got $70M from Gramercy in Q2...the word "net" is key as the difference plus some change is them paying off the liquidity backstop which was housed in the LT Debt as it had a maturity date of January 2016.

I hope that explanation helps.