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I think when a lot of people saw that they combined with Liberty Tax through the

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 next Point deal that it really

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 positioned them as a market leader.

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 I knew I was actually quite excited to kind of

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 follow up and see their progress through their quarterly statements because

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 next point is a publicly traded company

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 in Canada, which gives People Like Us. Yeah opportunity to

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 go and dig through all the fun details.

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But I was left a little bit disappointed because they

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 failed to file their end

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 of year financial statement. That's 20 20 21.

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 So I was already looking to get some type of you know

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 nuggets of how business was going. How many loans are

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 they making? You know, what's profitability like how much are they spending

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 on marketing? These are the things I like looking at right? It's all

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 and it's all public data. Yeah. These are things that we would be able

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 to report on analyze and talk about and of

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 course, they didn't follow their year and statements and

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 I'm like, okay, I guess I want to be waiting a little bit longer for that and then

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 they didn't file their 20 their first quarter 2020 to

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 reports either.

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And that was for anyone who was paying

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 attention, which I'm sure.

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Were few people but this is the kind of thing. I look at yeah, right.

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 I follow these type of companies and I follow their kind of

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 their financials and stuff. I knew that something was wrong.

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 Yeah, they did say that the reason

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 for the delay was not necessarily loan me driven, but

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 that they were still having trouble.

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 I guess calculating to Performance of something

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 of the Roman portfolio, but they weren't blaming an online me.

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 They said they had acquired some other tax company and it's

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 taking longer than expected. So I knew something was off but

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 it didn't didn't necessarily reflect on loan me.

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But then there was a lawsuit

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 that loaned me filed against a loan servicer. I think

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 that was in May but it didn't cut the news didn't

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 come out until like early June because they filed it under seal and

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 I think it was pretty obvious to that point. Okay, something's

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 going on here. This is just as an outsider. Yeah without

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 any inside knowledge of what's Happening alone me. Yeah

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 if I had never talked to anyone and I wasn't talking to anyone internally about

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 what was going on. I just saw as an outsider something is

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 happening here.

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And then all of a sudden next Point sites.

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Market conditions right? I think that forget

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 it if we just forget about

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 loan means

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Business model per second because theirs was

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 different they're not they were not an MCA company. They were small business

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 language. Well and this this is taking apart from when they announced the

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 acquisition pretty much next

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 Point announced that they're going to be one stop

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 Financial Services destination empowering hard working

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 and credit challenge consumers and small businesses to get

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 to the next point.

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In the financial future. Yeah, I mean it

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 all made sense. I thought it was so cool that they were combined with

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 Liberty Tax. I thought there was going to be a lot of

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You know cross-pollination as they say

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 where lonely was gonna get business from Liberty Tax

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 and vice versa there. Yeah loan me all the sudden

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 had this access to storefront to store Front, you

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 know businesses and stuff like that through literally storefront interaction.

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But of course it did not work out the way that even I

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 imagined it. I'm sure it didn't work out the way that people at

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 loan me imagined it but let's just take if

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 we just put aside loamy's business model for a second

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 because they didn't do and they didn't do MCA. I think

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 they experimented with it for a while. Yeah, they do. They do longer term small

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 business loans. Yeah, and I I don't see market

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 conditions as

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as really

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it just is it a valid? I don't

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 excuse, you know because it's hard to really think

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 that there's truth behind that just because for the

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 last few months the small business finance Market has been hot. Yeah

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 people have not been able to hire enough. Yeah.

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 We're raising had yeah booming. This company's raising

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 this amount this credit facility and this yeah, we've been reporting about it

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 non-stop. Yeah, it's been hot. Right and of

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 course you and I are not necessarily privy to The Loan Data except

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 for in the cases of public can try to companies. I

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 know you Nova has been reporting great things on Deck. So

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 if you look if you take that and you compare to everything else that how

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 can how can all the sudden market conditions be affecting

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 loan me. I think that there's probably a little

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 bit more to the story that we don't know

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 perhaps that lawsuit that

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 loan me followed against the loan servers service

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 that says, you know, they didn't service the loan properly or

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 we're making mistakes to something. These are just allegations. Yeah,

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 perhaps, you know, there was some things that contrib

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To the issues that they face and now

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 why they're closing but I don't I don't know that we can actually

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 I don't know that we could say, oh obviously Market

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 can Mark you I think that there's way more of

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 that story but ultimately loan me it will

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 not be rigidating any more business loans as you mentioned.

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 This was confirmed by next point in the

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 public statement. We did put out a story about it a week before that

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 a formal announcement because we had talked to and

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 heard from enough people that feel confident. Yeah that this was exactly

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 what was happening despite next Point not saying anything and then

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 I think it was June 21st. Next Point said, yes, it's it's true.

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 Yeah.

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Um, well, yeah like and like you said what this is

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 definitely interesting. Sorry because they had they had

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 a vision that this is gonna be turning out a lot different than

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 what it pretty much ended up being the less than a year.

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 It's it's shocking to have watched play. Yeah,

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 and then like I mean and this is from the notes that I

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 took that the company says loan me had

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 originated two billion dollars since Inception 340,000 plus

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 borrowers since Inception and

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 it has a 2 million loan portfolio Liberty Tax

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 Bill our processes 185,000 plus ends S&E

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 tax returns a million plus us

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 consumer taxes change in 400 K plus

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 Canadian tax returns. It's the company projects about

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 317 million dollars in revenues for 2021 and

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 like you said at the end of 2021.

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We couldn't even see well, you know what,

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 you know, what's interesting is that they haven't

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 actually filed their financials yet for the end

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 of last year or the first quarter of this year and hey, we're already done

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 with you know, we're already wrapping up to two. Yeah, so we

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 will actually get to find out what the financials were

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 and see.

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It market conditions or loan performance or whatever exactly

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 is the cause of loan me. Yeah,

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 how were these launch performing? What was their revenue? How did

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 that stack up to this number that they were projecting? I'd be

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 curious to see I think that there's scheduled to report

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 they claim, you know, they keep pushing back when they're

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 gonna reveal all this data and I think within the next couple

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 weeks. Yeah, I think they're scheduled to put it out once and for

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 all yeah, so I mean, well, you know, we'll share whatever is in there. We'll share

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 what's going on. So that's definitely interesting.