63 unchanged sentences
of any bond offering, and then will hold residual rights on the balance of assets once the bond is retired.
−Removed: January 1, 2022, we entered into a marketing and consulting agreement with Tradability, LLC (“Consultant”) that requires
+Added: January 1, 2022, we entered into a marketing and consulting agreement with Tradability, LLC (“Consultant”) that required
us to make an initial $100,000 payment and up to an additional $400,000 in the future (which will be financed by the Consultant via a
8 unchanged sentences
be an advisor.
−Removed: As of the issuance of these financial statements, none of the milestones related to the potential issuance of equity have been met.
+Added: As of the issuance of these financial statements, none of the milestones related to the potential issuance of equity have
Settlements Market
83 unchanged sentences
the purchase of policies and portfolios include:
−Removed: the insured is 75 years
−Removed: old or older;
−Removed: all NIBs relate to U.S.
+Added: insured is 75 years old or older;
+Added: NIBs relate to U.S.
Universal Life Insurance policies;
−Removed: all underlying insurance
−Removed: policies have qualified for financing that will cover at least four years of premiums;
−Removed: each policy must first
−Removed: be reviewed by the legal due diligence team of the lender providing financing for the acquisition and servicing of the life insurance
−Removed: policies, second by the MRI company’s due diligence team and then finally approved by our due diligence processes;
−Removed: all policies must qualify
−Removed: the projected proceeds
−Removed: payable on each life insurance policy upon the death of the underlying insured are projected to exceed the costs to service the life
−Removed: insurance policies, amounts due to creditors secured by such life insurance policy, such as the Holders’ Lender or the MRI
−Removed: provider, other costs and fees incurred by the Holder and the percentage of the remaining insurance benefit retained by the Holder
+Added: underlying insurance policies have qualified for financing that will cover at least four years of premiums;
+Added: policy must first be reviewed by the legal due diligence team of the lender providing financing for the acquisition and servicing
+Added: of the life insurance policies, second by the MRI company’s due diligence team and then finally approved by our due diligence
+Added: policies must qualify for MRI;
+Added: projected proceeds payable on each life insurance policy upon the death of the underlying insured are projected to exceed the costs
+Added: to service the life insurance policies, amounts due to creditors secured by such life insurance policy, such as the Holders’
+Added: Lender or the MRI provider, other costs and fees incurred by the Holder and the percentage of the remaining insurance benefit retained
+Added: by the Holder
encounter significant competition in the life settlements industry generally from numerous companies, including hedge funds, investment
banks, secured lenders, specialty life insurance finance companies and life insurance companies themselves who purchase life settlements.
−Removed: Many of these competitors have greater financial and other resources than we do and may have significantly lower cost of funds because
+Added: Many of these competitors have greater financial and other resources than we do and may have a significantly lower cost of funds because
they have greater access to insured deposits or the capital markets.
26 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.