[Jess]

is rapid capital that big ? where do they get the numbers from ?

They disclose the actual 2014 results and pro forma 2015-2016 in an Exhibit. Rapid lost money in 2014 and it's debt exceeded the value of its portfolio....so a $15 million buyout was an amazing offer! Earn-outs are always precarious as the buyer has a perverse incentive to make the hurdles high. We saw this when GRP won a settlement from BFS when BFS allegedly handcuffed GRP's operations. Having said that, Craig's rep at NAB is not exactly a secret-but these allegations are nuts.

[Karen37a]

They disclose the actual 2014 results and pro forma 2015-2016 in an Exhibit. Rapid lost money in 2014 and it's debt exceeded the value of its portfolio....so a $15 million buyout was an amazing offer! Earn-outs are always precarious as the buyer has a perverse incentive to make the hurdles high. We saw this when GRP won a settlement from BFS when BFS allegedly handcuffed GRP's operations. Having said that, Craig's rep at NAB is not exactly a secret-but these allegations are nuts.

Some of us came into this industry at a disadvantage ...looked around ...said "not me" ..broke free and ran

Amazing how stupid people think some are

[fundingsmbs]

They disclose the actual 2014 results and pro forma 2015-2016 in an Exhibit. Rapid lost money in 2014 and it's debt exceeded the value of its portfolio....so a $15 million buyout was an amazing offer! Earn-outs are always precarious as the buyer has a perverse incentive to make the hurdles high. We saw this when GRP won a settlement from BFS when BFS allegedly handcuffed GRP's operations. Having said that, Craig's rep at NAB is not exactly a secret-but these allegations are nuts.

how much did they settle for to buyout the previous owner of grp? it look s like bfs retained the name of grp companies inc however as marc and Michael M remain listed as senior management of that corporation. was it more of a buyout owner and keep everything else intact , business as usual ?