Koo

Since the Eastern and Hepa deals closed prior to 7-31-15, they are included in capital, therefore negative equity of $5mil includes both deals -

One thing that doesn't jive is the cash position. DM shows a slide in the Yale presentation that states that the July 2015 cash position was $64mil. The 7-31-15 audited balance sheet has a cash balance of $48mil. They could have repaid some debt at the end of July.

Chicagoest

I