RE:news outVery good news for the end 2018. Chinese company handles loans through ASCS.
More shares, I know. But, of course they have to be remunerated.
They do a good job:
Wenyi receives monthly service fees amounting to an annual interest rate of approximately 8.25% on the loans it services. As of the end of October, Wenyi was on pace to finish 2018 with $1.2M in revenue and $400,000 in EBITDA, servicing approximately $18M in loans.
clever:
Wenyi's shareholders will receive the maximum number of Peak common shares to which they are entitled in a quarter only if ASCS generates a minimum of $125,000 in EBITDA for the quarter, otherwise they will receive a pro-rata number of Peak common shares of the EBITDA generated by ASCS for the quarter.
I wish us a good year 2019.