$110 mil is going to secure the 'bonds' $26 mil is going to be used to pay the interest on the notes being issued for 2 years, lol. $58 mil is going to fund the company's operations, which, are quite strange. $6 mil going to pay for fees related with the offering.
All for 5.5% per year.
This post is just my opinion. I am a 100% non-compensated poster posting solely for my own interests and/or entertainment.