Castle Brands Board (ROX)

[FUNMAN]

ROX outright owns about $18 million'ish of inventory.

Just because ROX can collateralize the loan with inventory, that does not mean ROX does not lay down inventory to age and or be resold out of cash flow. In fact we know they do. We just can't put a real dollar amount to that on a daily basis.

The credit facility was raised to $25 mil.

$22,182,692 is used.

$40,604,712 equals the inventory.

That means that inventory valued at approximately $18 million is owned free and clear by ROX.