Lowell - comment

Looks like we have to engage with management to get us white-listed again. We were again culled from the Q&A. The quarter offered little interesting news, but did illustrate how the company’s portfolio sales now carry the Cash EBITDA (or how they don’t when only little was sold). ERC keep shrinking, so it’s all a bet on either sufficient continental demand based on Cash EBITDA Leverage metrics or fresh cash via GS - the latter being the subject of our intended question…