And his expense has gone up. An expense he didn’t want to swallow at this time in his business plan. I bet he feels the need to get quality R/M candidates. All those DE shells were going to be filled with any joe blow company as a stream of bread and butter. NOT!
He’s better off holding out for the home run companies and bank on common shares after the deal. Like my IHAI. Talk about holding out for quality? Killing me.