Replies to post #313799 on Spongetech Delivery Systems Inc (fka SPNGQ)

[Risicare]

Yes and due to you only gaining one month in time with the money. If you just waited 30 days you would get the full sum.

So you are paying 4.67% to get the money 30 days ahead not one year. This is real, real basic math.

I would LOVE to have a deal like that, I would gladly lend someone money secured by receivables from a large company for 4.67% a shot. It is almost theft for such an almost riskless high return.

[harvard homeboy]

the deal is done - nothing more to calculate


Rinse and repeat for a full year and tell me what the cost of funds was on your borrowings.

Hint: If you think it's 4.67% you're off track.

TIA