General Capital (GEN:NZ) Annual Meeting Presentations

Welcome to
General Capital Limited’s
Annual Meeting
1
3:00pm Wednesday 28 September 2022

Chairman of
the meeting
：
Simon McArley
2

Brent KingRewiBugoHueiMin (Lyn) Lim
Simon McArleyPaul Zingel
3

Agenda
1.1 Chairman’s Introduction
1.2 Apologies
1.3 Chairman’s address
1.4 Extraordinary Business
1.5 Regular Business
1.6 General Business and Shareholder discussion
4

1.1 Chairman’s Introduction
5

1.2 Apologies
6

1.3 Chairman’s
address
7

1.4 Extraordinary Business
8
a) Resolution 1: Issue of Shares pursuant to a wholesale capital raising.
To consider and, if thought fit, pass the following ordinary resolution:
“That the Shareholders approve (for the purposes of NZX Listing Rule 4.2.1) the issue of up to $5
million of new Shares to such persons (not being Related Parties of GenCap) and in such numbers
and proportions as determined by the Board in its absolute discretion and at such price and on
such terms as the Board believes is fair and reasonable to GenCap and to all existing
Shareholders, but at a price of not less than 5.75 cents per Share.”

a) Consideration and Discussion of Annual Report.
The meeting will receive, consider and discuss the Annual Report of GenCap for the year ended
31 March 2022, including the financial statements for that year and the Directors’ and auditor’s
reports to the Shareholders.
1.5 Regular Business
9

Managing
Director:
Brent King
10

Key Points
Deposits up 52% to $88.0m
Loans up 49% to $80m
Cash up 128% to 16.7m
Total Assets up 51% to 102.0m
Revenue up 64% to $8.0m
Group NPBT up 1,540 % to $1.3m
11

12

13
40.18
47.68
47.08
51.37
61.04
64.53
71.26
79.10
90.66
99.13
111.87
34.46
41.84
41.17
45.37
55.22
58.47
64.99
72.21
83.07
89.42
101.45
5.72
5.83
5.90
6.00
5.82
6.05
6.28
6.90
7.59
9.71
10.41
0.00
20.00
40.00
60.00
80.00
100.00
120.00
Dec-19Mar-20Jun-20Sep-20Dec-20Mar-21Jun-21Sep-21Dec-21Mar-22Jun-22
Growth in General Finance Limited (Subsidiary)
Total AssetsTotal LiabilitiesEquity

14

15

Managing
Director:
Brent King
16

Loan Receivables (Net) $100m -$104m
Total Assets$120m -$125m
Term Deposit Liabilities $105m -$110m
Total Liabilities$106m -$111m
Total Equity$14.0m
Revenue$5.0m -$5.5m
Net Profit After Tax $900k -$1.05m
Outlook to 30 September 2022:
-We expect September to be a record 6
monthly profit for the group due to continued
growth in the balance sheet.
17
6 months to 30/09/2022
Guidance

b) Resolution 2: Auditors fees and expenses
To record that GenCap’sauditors, Baker Tilly Staples Rodway, Auckland are automatically
reappointed as auditors pursuant to section 207T of the Companies Act 1993 and to consider,
and if thought fit, to pass the following ordinary resolution:
“That the Board be authorised to fix the fees and expenses of the auditors of GenCap for the
financial year ending 31 March 2023.”
19

c) Resolution 3: Election of Director -Paul Zingel
To consider and, if thought fit, pass the following ordinary resolution:
“That Paul Zingel be elected as a director of GenCap.”
20

d) Resolution 4: Election of Director –Greg James
To consider and, if thought fit, pass the following ordinary resolution:
“That Greg James be elected as a director of GenCap.”
21

e) Resolution 5: Re-election of Director -HueiMin (Lyn) Lim
To consider and, if thought fit, to pass the following ordinary resolution:
“That HueiMin (Lyn) Lim be elected as a director of GenCap.”
22

f) Resolution 6: Re-election of Director -Rewi Hamid Bugo
To consider and, if thought fit, to pass the following ordinary resolution:
“That Rewi Hamid Bugo be elected as a director of GenCap.”
23

g) Resolution 7: Increase to Directors’ fee pool
To consider and, if thought fit, to pass the following ordinary resolution:
“That the maximum aggregate amount of remuneration payable by GenCap to the Directors (in
their capacity as directors, as that term is defined in the NZX Listing Rules) be increased from
$300,000 to $600,000 per annum, plus GST (if any), to be paid and allocated among the Directors
as the Board from time to time deems appropriate and that any remuneration payable to such
Directors may, at the Board’s discretion, in whole or in part, be through an issue of Equity
Securities (as that term is defined in the NZX Listing Rules) of GenCap.”
24

-to consider any other matters that may be brought properly before the Meeting.
1.6 General Business and
Shareholder discussion
25

26
Thank you for
attending
General Capital
Limited’s
Annual Meeting
26

---

1

General Capital Limited Annual Meeting
28th September 2022
Speech – Chairman of the Meeting, Simon McArley
1 Introduction
Good afternoon everybody.
It is 3:00pm and it is time to start the Annual Meeting of Shareholders of
General Capital Limited.
My name is Simon McArley, I am an independent director of General Capital
and the Chair of the Audit Committee. The Board has asked me to chair the
meeting today.
Unfortunately Rewi Bugo, the chair of the Board of General Capital is unable to
be here in person today. Rewi is in Kuching, Malaysia. He will be back in New
Zealand next week, but unfortunately wasn’t able to get here today.

He apologises for not being here in person but he is listening to the meeting
remotely.
I would also like to introduce the balance my fellow Directors.
• Paul Zingel;
• Ms. Lyn Lim;
• Mr. Brent King our Managing Director.
I am advised that:
➢ the notice of meeting has been in shareholders hands for the required
period;
➢ the Annual Report has been available to Shareholders for the required
period;
➢ we have a quorum of shareholders present;
and thus we have a correctly constituted meeting.
I declare the meeting open.
It is my pleasure to formally welcome you all here today to the Fourth Annual
Meeting of General Capital Limited.

2

I am advised that we have received XX proxies representing [% of the votes.
2 Apologies
We have Apologies from
• As noted previously, the Chairman of the Board of Directors Mr. Rewi
Bugo. I also have an apology from Rob Hart, director of General Finance.
• Do we have any others?
3 Attendees
We also have in attendance:
• Mr. Victor Pliev, the Chief Financial Officer of our Group;
• The Chair of General Finance Ltd, Mr Don Hattaway and General Finance
Board member Greg Pearce;
• General Capital’s auditors, Grant Thornton represented by Ryan
Campbell;
• Daniel Wong from our lawyers Flacks & Wong; and
• Representatives from Covenant, the General Finance trustee; and
• Greg James, who has been nominated for election as a Director of
General Capital.
We also welcome today General Finance deposit holders, who will help us
celebrate 25 years of General Finance’s operations following the meeting.

We are very pleased with the turnout, and we look forward to meeting with you
all after the meeting. We hope to have a good chance to meet you all and discuss
the progress of the group.
4 The Meeting
In the interests of a full and open discussion, the Directors of General Capital
have invited non-shareholders to attend this meeting.
• There is no automatic right for a non-shareholder to attend this meeting.
• There is no automatic right for non-shareholders to speak without the
consent of the Chair.
• Please note if you would like to speak at any time
o Please raise your hand; and

3

o Wait to be acknowledged by the Chair.
o Please give your name and advise whether you are a shareholder, a
member of the media or a guest.
The Chair will retain the right to accept or reject the comments or questions on
a case-by-case basis.
• I ask that all mobile phones be turned off or to silent
• Please also note the exits which we will need to use in the event of an
emergency.
As regards voting, all shareholders registered on the share register as at 5pm
on Monday are, subject to any specific voting restrictions, entitled to vote.

Rule 6.1 of the NZX Listing Rules requires all voting to be conducted by poll.
Accordingly if you have not already appointed a proxy, you can vote by
completing a voting form and providing it to the Computershare
representatives at any time up to the conclusion of the formal meeting. All
shareholders should have received a voting paper at the door but if you don’t
have one the Computershare representatives can sort that out for you.

Results of the voting will be available after the conclusion of the meeting and
will be publicly notified by way of announcement to the NZX.
5 The Companies Interest Register
I confirm that the company’s Interest Register is also available for inspection.
6 Agenda
I am sure you have all read the Notice of Meeting and the attachments, so we
will take these as read.
We have already dealt with items 1 and 2 on the Agenda, which brings us to
the Chairs address.
7 Chair’s Address
Rewi Bugo has asked me to make the following comments on his behalf.
When the shareholders of Mykco meet, 4 years ago in this very room to
consider the purchase of General Finance and Investment Research Group, we
had plans and strategies but there was no certainty of achieving those targets.

4

They were ambitious and some of the shareholders were sceptical. They had a
right to be so.
The market was difficult, and no-one had listed a company on NZX which
owned a non-Bank Deposit taker for a long time. Our Managing Director Brent
king convinced us that this was a good idea and we supported him.
Since that time we have seen the General Capital group go from strength to
strength.
Even with a relatively small capital base at the start we have been able to grow
all aspects of our business. Substantially.
We have been one of the fastest growing companies on the NZX. Our 60% pa
compounded growth over those 4 years puts us at the top end of the market.
This, by most measures, is outstanding growth particularly in a highly regulated
and competitive sector.
We are also pleased to have been able to return a strong profit for the last year
and also position ourselves very well for the future.
With the resolutions we have to consider later in the meeting I am sure we will
continue the strong growth that we have shown in the past.
I want to personally thank you for your support of General Capital over the last
4 years.
8 Resolutions
I will now move to the Resolutions before the Meeting. For clarity I’d note that
I will be exercising any discretionary proxies conferred on “the Chair”. As noted
in the Notice of Meeting, I will be voting any undirected proxies in favour of
the resolutions, except in relation to resolution 7, where I am ineligible to vote,
and will accordingly abstain in relation to any undirected proxies.
All resolutions are ordinary resolutions, requiring a 50% majority of those
entitled to vote and voting to be caried.
The Board has unanimously recommended that you vote in favour of all todays
resolutions.
8.1 Extraordinary Business
Resolution 1

5

Starting with the Extraordinary Business, we have a resolution relating to the
issue of further capital.
“That, the shareholders approve (for the purposes of NZX Listing Rule 4.2.1) the
issue of up to $5,000,000 of new Shares to such persons (not being Related
Parties of the Company) and in such numbers and proportions as determined
by the Board in its absolute discretion and at such price and on such terms as
the Board of the Company believe is fair and reasonable to the Company and to
all existing shareholders but at not less than 5.75 cents per share.”
This is identical to a similar resolution presented to and adopted at the 2021
meeting. Of that $5 million, $2.4 million was raised. The remainder of that
approval has expired. This resolution effectively renews and resets that
previous approval.
We have developed the General Capital group significantly since the business
was listed four years ago. We have grown substantially, and we of course need
to ensure that the capital ratio of our subsidiary, General Finance Limited,
remains in order. We still have capacity for growth, but with the strong
balance sheet growth over the last year we are considering what we will need
for the future. We have set the following resolution so that we have room to
continue on our strong growth path.
The notice of meeting sets out in some detail the background to the resolution
and the reason the Board believe they are in the best interests of the
company.
I move the resolution as presented.
Do I have a seconder?
Thankyou ______________.
I note that all shareholders are entitled to vote on this resolution.
Do we have any questions or discussion from shareholders on Resolution 1?
{ Allow 30 seconds for first question to be asked}
As there are no [further] questions, I remind you to cast your vote on
Resolution 1 now or prior to the close of the meeting if you haven’t done so
already.

6

8.2 Regular Business
Moving on to the Regular Business.
Firstly I turn to considerations and discussion on the Annual Report.
I now ask our Managing Director to speak to the report.
Over to you Brent.
[BK Presentation]
Thank you, Brent - very informative.
Do we have any questions for Brent on the Annual Report, financial statements
or other matters discussed by Mr King?
{Allow 30 seconds for first question}
Resolution 2
Thanks Everyone. Moving on to Resolution 2.
And here we have a small update to the notice of meeting. Since printing and
distribution of the notice of meeting, the Board has received Baker Tilly Staples
Rodway’s resignation as auditors and have, in accordance with section 207R of
the Companies Act, appointed Grant Thornton in their place. Notice of this was
given to shareholders via NZX on the 9
th
September.
I would like to take this opportunity to thank Baker Tilly for all their hard work
and support over the past 4 years. Their contribution to our growth as a listed
and regulated entity is appreciated.
I would also welcome Grant Thornton to our Group. We look forward to
working with you.
The resolution we have before us is
“That the Board be authorised to fix the fees and expenses of the auditors of
the Company for the financial year ending 31 March 2023.”
I move the motion

7

Do we have a seconder? Thank you _____________
I now open the matter for discussion. Are there any questions from
Shareholders?
{Allow 30 seconds for first question}
As there are no [further] questions, I remind you to cast your vote on
Resolution 2 now or prior to the close of the meeting if you haven’t done so
already.
I note that all shareholders are entitled to vote on this resolution.
Resolution 3
Moving on to Resolution 3.
“That Paul Zingel be elected as a director of the Company”
Paul was appointed by the Board on 1 March 2022, and in accordance with
listing rule 2.7.1 Paul is required to present himself for re-election at the
Annual Meeting. Paul’s profile is included in section 4.15 of the explanatory
notes to the Notice of Meeting. On his initial appointment the Board
determined that Paul was an independent director for the purposes of the NZX
Listing Rules and Governance Code.
Paul do you briefly want to introduce yourself and speak to the resolution.
[Paul to speak]
Thankyou Paul
I will now move the resolution; do I have a seconder?
Thankyou ______________.
Do we have any questions or comments from shareholders?
{Allow 30 seconds for first question}
As there are no [further] questions, I remind you to cast your vote on
Resolution 3 now or prior to the close of the meeting if you haven’t done so
already.

8

Again I note that all shareholders are entitled to vote on this resolution.
Resolution 4
Moving on to Resolution 4.
“That Greg James be elected as a director of the Company.”
Greg has been nominated by Mr King for election. Having considered the
qualifications, skills and experience needs in accordance with the company’s
nominations and appointment procedure, the Board believes Greg will
enhance the Board’s ability operate efficiently and effectively. In particular we
believe that he will address our weakness in accounting and tax knowledge.
Greg’s profile is included in section 4.17 of the Notice of Meeting explanatory
notes.
As also noted in the explanatory notes to the notice of meeting, the Board has
conducted the required background checks on Greg and having found the
results to be satisfactory, unanimously supports Greg’s election. The Board
considers that if elected he will be an independent director for the purposes of
the NZX Listing Rules and Governance Code.
Greg do you briefly want to introduce yourself and speak to the resolution.
[Greg to speak]
Thankyou Greg
I will now move the resolution; do I have a seconder?
Thankyou ______________.
Do we have any questions or comments from shareholders?
{Allow 30 seconds for first question}
As there are no [further questions], I remind you to cast your vote on
Resolution 4 now or prior to the close of the meeting if you haven’t done so
already.
I note that all shareholders are entitled to vote on this resolution.
Resolution 5

9

Moving on to Resolution 5.
“That Huei Min Lim be re-elected as a director of the Company.”
Lyn has been an Independent non-executive director of the company since
2011 and continued on the Board after the creation of General Capital by
reverse listing in 2018. Lyn was last re-elected in 2019, and accordingly
required to retire by rotation at this meeting. She is eligible for and offers
herself for re-election. Lyn’s profile is included in section 4.18 of the Notice of
Meeting explanatory notes.
Lyn do you briefly want to introduce yourself and speak to the resolution.
[Lyn to speak]
Thankyou Lyn
I will now move the resolution, do I have a seconder?
Thankyou ______________.
Do we have any questions or comments from shareholders?
{Allow 30 seconds for first question}
As there are no [further questions], I remind you to cast your vote on
Resolution 5 now or prior to the close of the meeting if you haven’t done so
already.
All shareholders are entitled to vote on this resolution.
Resolution 6
Moving on to Resolution 6.
“That Rewi Hamid Bugo be re-elected as a director of the Company.”
Rewi has been a non-executive director of the company since 2017. He was
last re-elected in 2019, and accordingly required to retire by rotation at this
meeting. He is eligible for and offers himself for re-election. Rewi’s profile is
included in section 4.19 of the Notice of Meeting explanatory notes.
I will now move the resolution, do I have a seconder?

10

Thankyou ______________.
Do we have any questions or comments from shareholders?
{Allow 30 seconds for first question}
As there are no [further] questions, I remind you to cast your vote on
Resolution 6 now or prior to the close of the meeting if you haven’t done so
already.
Again all shareholders are entitled to vote on this resolution.
Resolution 7
Moving on to the final resolution, Resolution 7.
“That the maximum aggregate amount of remuneration payable by the
Company to the Directors (in their capacity as directors, as that term is defined
in the NZX Listing Rules) be increased from $300,000 to $600,000 per annum,
plus GST (if any), to be paid and allocated among the Directors as the Board
from time to time deems appropriate and that any remuneration payable to
such Directors may, at the Board’s discretion, in whole or in part, be through
an issue of Equity Securities (as that term is defined in the NZX Listing Rules) of
the Company.”
The Directors remuneration was last fixed by shareholders in 2018, following
the creation of General Capital by reverse listing. At that time the full amount
of the annual pool was not paid and in fact is not yet being fully spent.
Over those 4 years the company has grown from a $16 million dollar business
to a business with over $102 million of assets. The demands on Management
and the respective boards have increased similarly.
The director’s base annual remuneration was $22,000 p.a. up to 1 April this
year, when it was increased to approximately $28,000. Premiums are paid for
the board and audit committee chairs. The current pool is spread across 8
directors on the 2 boards. The election of a further director would bring this to
9.
The Board is proposing this resolution to position the company for its next
period as growth. As with the previous increase in the pool 4 years ago, it is
not intended to allocate the full pool immediately.

11

However having the pool available will enable us to attract new skills and
expertise to the boards as the business continues to grow and evolve. We are
doing this today with the proposed appointment of Greg, and will need to
continue to do so to meet our skill and diversity requirements.
I’d make the following brief points:
• The pool has to cover both General Capital and General finance. Our
NBDT registration requires us to maintain an independent board for
General Finance which requires us to maintain more directors that a
company of our size might otherwise require.
• The fee pool has not been increased since listing in 2018. I believe the
current directors fees are extremely modest, based on the workloads and
risk both boards carry.
• The business is approximately 10 times the size since listing with relatively
modest increase in staffing and resources. This has placed more work and
responsibility back on the Boards in an attempt to manage expenses.
• While we have not commissioned any formal benchmarking, the board
believes that the fees currently paid are comparatively low compared to
those paid for companies managing businesses with a similar quantum of
assets and complexity.
• We have hopefully added an additional Director today.
• As we proceed with our continued wholesale capital raising to fund the
growth of the business, we will need to be able to consider any additional
board representation that may be required to secure substantial or
cornerstone investors. This may be necessary to achieve $5 million
investment we addressed in resolution 1.
• Further if we add additional representative directors, we may need to add
additional independent directors to address the Reserve Bank and NZX
requirements and recommendations for a majority of independent
directors.
• As I said previously the Board has never spent the full fee pool, and don’t
intend to do so now. However the proposal will give us the head room to
address these challenges.

12

Further notes are included in sections 4.20 to 4.25 of the Notice of Meeting
explanatory notes.
I will now move the resolution; do I have a seconder?
Thankyou ______________.
Do we have any questions or comments from shareholders?
{Allow 30 seconds for first question}
As there are no [further] questions, I remind you to cast your vote on
Resolution 7 now or prior to the close of the meeting if you haven’t done so
already.
The Directors of the company and any of their associated persons are ineligible
to vote on this resolution. However they have unanimously recommended that
you vote in support of the resolution.
All shareholders other that the Directors of the company and any of their
associated persons entitled to vote on this resolution.
9 General Business
That brings us to General Business.
Do we have any questions, comments, or items of general business from
shareholders?
{Allow 30 seconds for any general business or questions}
10 Closing
If there is nothing [more], that concludes the formalities of the meeting.
In a couple of minutes, we will close the voting system. Please ensure that you
have cast your vote on all resolutions.
I wish to thank you all for your attendance. I ask you now to join the Directors
for a piece of Birthday cake and a drink to celebrate our success and 25 years
of successful operation by General Finance.

13

On behalf of the Directors, Management and staff thank you very much for
your support and look forward to seeing you all next year.
I declare the meeting closed.

---

Managing Director’s Address to General Capital Ltd.’s ASM 28/9/2022
[Slide 10]
Thank you, Chairman.
Good afternoon, everyone. Thank you for taking the time to attend our shareholder meeting and our
25
th
birthday celebration for General Finance today.
We released our Annual Report to 31st March on the 30th June 2022.
I am sure you have had a chance to read it.

[Slide 11]
Key Points

 Deposits up 52% to $88.0m
 Loans up 49% to $80m
 Cash up 128% to 16.7m
 Total Assets up 51% to 102.0m
 Revenue up 64% to $8.0m
 Group NPBT up 1,540 % to $1.3m
All indicators were very strong.
The key feature is that we have had an excellent profit, whilst managing the pressures of covid and
growing General Finance’s total Assets from $64m to $102m.
We have of course, met all of our Regulatory obligations.
We were helped a lot by the bounce out of covid. The Western world had simply pumped so much
cash into the system all assets had price pressure. This created the upwards pressure on Land and
building values.

4 Year Trend
[Slide 12]
We had always projected growth in our business.
We have moved our assets from $954k in 31/3/2018 to $103m in 31/3/2022

[Slide 13]
You will see that in the quarter to 30/6/22 General Finance has grown a further 8.6% to $111.8m.
I advise that we have continued to grow in the quarter to 30 Sept. This has been a little slower, it
seemed that the talk and expectations of interest rate increases “flattened” the investment market a
little. We are expecting growth of 4% to 7% in General Finance’s assets.

Note
The quarterly results for General Finance are uploaded to the Disclose Register each quarter. The
results for General Capital are only released to NZX 6-monthly.

How much more can we grow with the current Capital?
I have been asked that many times.
We have a Capital Ratio minimum of 8%. If we fall below 10%, we are on watch.
We are currently on a ratio of approximately 18%. That effectively means that we can grow 40%
bigger without requiring more capital. The Directors and management have set an internal limit of
14%. This is our own limit given the uncertain times we are in. We can change that at any time, and
we are not required to give notice.
This allows us to handle the unexpected. In summary we can grow 40% but we will limit ourselves by
using a higher (more conservative) ratio.
This is the reason we have taken the steps discussed earlier in the meeting to allow the directors to
do this.

Credit Rating

I am pleased to announce that Equifax has completed its credit rating to 31/3/2022 and has
UPGRADED its rating to a Positive outlook.
The Board of General Finance accepted the rating this morning.
This is fantastic news for us. After a tough lock down period, we have come through with flying
colours the rating agency has upgraded the outlook.
Equifax deem this to be “near prime with a low to moderate risk of failure “
I am sure that this will give investors even more confidence when considering an investment in
General Finance.

[Slide 14 - 15]
Community Contribution

We have made community Contributions this year. These have included 2 Donations to a foodbank,
Sponsorship of the North Harbour Veterans Golf Tournament, Sponsorship of 5 Synthony events
around the country plus smaller sponsorships of sports club.

When we have been able to, we have made donations to the community.

Outlook
We are very reluctant to make any predictions of profitability.
This business can turn quickly as financial markets are dependent on each other and the contagious
effect can be lightning fast.
However, based on the numbers we have before us we are currently expecting a net profit after tax
for the 6 months to 30/9/2022 to be in the $900k to $1.05m range.
This would be an increase of over 250% on last year’s figure for the same period
We expect group assets to be approximately $125m an increase of approximately 50% on the same
period last year.

We are very pleased that we are currently able to significantly increase profits and Assets.
We will update you as matters develop.


Ladies and gentlemen.
If you pass the placement resolution today which we are soon to consider we may be able to
develop our business further.
We are very committed to building this business further.
Currently we have opportunities to build the business further and we are keen to see if we can raise
this additional capital.

[Slide 16]

Opportunity
I understand that the Government is planning to bring in new regulations in the Deposit taker sector.
The deposit taker bill had its first reading in Parliament last week.
We are monitoring this.
We have thoughts, ambitions, and plans.
This could be very positive for us, or it could be negative or little change.

If it changes only a little it could allow us to push through with our growth plans.

If it changes and results in a significant regulatory burden, then making profits will be more difficult.

If it changes and allows us to become a licensed bank, that could be fantastic.
Australia, Singapore, and the UK have all gone this way, mainly to create more competition in the
sector.
We do not know which way this will go.
We are consulting with others in the industry plus with specialist advisers.
Please do not read anything into this except things may change and opportunities will present
themselves.


[Slide 17]

The Future.


Assets


We will advise as matters develop.

[Slide 18]

Ladies and gentlemen.
- We have had very good 2022
- We have started 2023 better
- We are well placed for the future.
Please note
The best is yet to come!!
Thank you all for all your support for General Capital and for listening to me today.
Brent king