RE:RE:RE:RE:RE:RE:RE:RE:Time for stockholder dilution again? What is difficult to follow on it? On the current dividend/Distributable cash, they did not distribute $654,000, the previous quarter was $1.32 M... They they make an acquisition and the new royalty will add to the Distributable income number, and without adding to the dividend payout until after the debt is payed off, Maybe that difference is between $1.5-3M...
If they were to make a similar deal to what they have with Stratus, they expected that to earn $6 mill to the pool per year (1.5/Q), it cost them 60 M - 16 cash on hand = 44 M on the facility, let’s average last quarter and this quarters undistributed income = 985k + 1.5 income from deal per Quarter = 2.485 M… 44 / 2.485 = 17.7 Quarters to pay off or 4.5 years, let’s call the interest and royalty increases from most of the rest of the portfolio a wash, although the interest cost will be reducing over time and the royalty contracts are ever increasing. I don’t think 4.5 years (maybe 3.5-4 years in real time due to the payoff over time) is that long to pay for an acquisition that added 14% to our income size without diluting…