2018 Q2 Form 10-Q Financial Statement

#000127547718000109 Filed on July 27, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $38.59M $34.58M
YoY Change 11.6% 79.77%
Cost Of Revenue $18.19M $10.16M
YoY Change 79.04% 137.38%
Gross Profit $2.670M -$8.180M
YoY Change -132.64% -206.93%
Gross Profit Margin 6.92% -23.66%
Selling, General & Admin $2.931M $2.862M
YoY Change 2.41% 34.11%
% of Gross Profit 109.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.931M $2.862M
YoY Change 2.41% 34.11%
Operating Profit -$261.0K -$11.04M
YoY Change -97.64% -300.18%
Interest Expense $8.763M
YoY Change 163.15%
% of Operating Profit
Other Income/Expense, Net $964.0K $1.074M
YoY Change -10.24% 24.88%
Pretax Income $1.350M -$9.640M
YoY Change -114.0% -249.23%
Income Tax
% Of Pretax Income
Net Earnings $1.346M -$9.643M
YoY Change -113.96% -249.2%
Net Earnings / Revenue 3.49% -27.89%
Basic Earnings Per Share $0.03 -$0.26
Diluted Earnings Per Share $0.03 -$0.26
COMMON SHARES
Basic Shares Outstanding 53.10M shares 34.88M shares
Diluted Shares Outstanding 37.21M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.9M $199.8M
YoY Change -30.98% 205.5%
Cash & Equivalents $137.9M $199.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $152.7M $214.2M
YoY Change -28.71% 188.68%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.690B $3.738B
YoY Change -1.29% 68.12%
Other Assets $23.10M $6.500M
YoY Change 255.38% 71.05%
Total Long-Term Assets $3.755B $3.769B
YoY Change -0.35% 68.02%
TOTAL ASSETS
Total Short-Term Assets $152.7M $214.2M
Total Long-Term Assets $3.755B $3.769B
Total Assets $3.908B $3.983B
YoY Change -1.88% 71.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $700.0K
YoY Change 0.0% 75.0%
Accrued Expenses $7.200M $2.200M
YoY Change 227.27% 57.14%
Deferred Revenue
YoY Change
Short-Term Debt $3.450B $3.279B
YoY Change 5.23% 59.09%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.463B $3.561B
YoY Change -2.78% 72.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $36.40M $3.400M
YoY Change 970.59% -47.69%
Total Long-Term Liabilities $36.40M $3.400M
YoY Change 970.59% -47.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.463B $3.561B
Total Long-Term Liabilities $36.40M $3.400M
Total Liabilities $3.499B $3.565B
YoY Change -1.85% 71.92%
SHAREHOLDERS EQUITY
Retained Earnings -$15.03M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $409.2M $418.2M
YoY Change
Total Liabilities & Shareholders Equity $3.908B $3.983B
YoY Change -1.88% 71.89%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $1.346M -$9.643M
YoY Change -113.96% -249.2%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $35.86M $6.280M
YoY Change 471.02% -30.84%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $160.5M -$222.2M
YoY Change -172.23% 75.32%
Cash From Investing Activities $160.5M -$222.2M
YoY Change -172.23% 75.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -191.4M 322.9M
YoY Change -159.27% 172.11%
NET CHANGE
Cash From Operating Activities 35.86M 6.280M
Cash From Investing Activities 160.5M -222.2M
Cash From Financing Activities -191.4M 322.9M
Net Change In Cash 5.010M 106.9M
YoY Change -95.32% 10702.02%
FREE CASH FLOW
Cash From Operating Activities $35.86M $6.280M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >The preparation of financial statements in conformity with GAAP r</font><font style='font-family:Arial Narrow;font-size:11pt;' >equires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses du</font><font style='font-family:Arial Narrow;font-size:11pt;' >ring the reporting period. Actual results could differ from those estimates. </font><font style='font-family:Arial Narrow;font-size:11pt;' > </font><font style='font-family:Arial Narrow;font-size:11pt;' >The significant estimates affecting the accompanying financial statements are the fair values of </font><font style='font-family:Arial Narrow;font-size:11pt;' >RMBS and derivatives</font><font style='font-family:Arial Narrow;font-size:11pt;' >.</font></p><p style='text-align:left;line-height:13.8pt;' ></p></div>
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CostOfServicesOverhead
388000 USD
CY2018Q2 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
248000 USD
CY2017Q2 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
232000 USD
us-gaap Professional Fees
ProfessionalFees
463000 USD
us-gaap Professional Fees
ProfessionalFees
389000 USD
CY2018Q2 us-gaap Professional Fees
ProfessionalFees
167000 USD
CY2017Q2 us-gaap Professional Fees
ProfessionalFees
219000 USD
orc Direct Reit Operating Expenses
DirectReitOperatingExpenses
810000 USD
orc Direct Reit Operating Expenses
DirectReitOperatingExpenses
496000 USD
CY2018Q2 orc Direct Reit Operating Expenses
DirectReitOperatingExpenses
407000 USD
CY2017Q2 orc Direct Reit Operating Expenses
DirectReitOperatingExpenses
265000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
194000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
200000 USD
CY2018Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
141000 USD
CY2017Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
140000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6039000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5281000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2931000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2862000 USD
us-gaap Profit Loss
ProfitLoss
-15030000 USD
us-gaap Profit Loss
ProfitLoss
-7193000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
1346000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-9643000 USD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2017Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.42
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52794513 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35117364 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52587472 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37211362 shares
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9643000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9643000 USD
CY2017Q2 orc Common Shares Outstanding Earnings Per Share
CommonSharesOutstandingEarningsPerShare
45300000 shares
CY2017Q2 orc Unvested Dividend Eligible Shares Outstanding Earnings Per Share
UnvestedDividendEligibleSharesOutstandingEarningsPerShare
0 shares
CY2017Q2 orc Effect Of Weighting
EffectOfWeighting
-8089000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
-7681000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7681000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' ><font style='font-family:Arial Narrow;font-size:11pt;margin-left:18pt;' >As of </font><font style='font-family:Arial Narrow;font-size:11pt;' >June 30, 2018</font><font style='font-family:Arial Narrow;font-size:11pt;' > and </font><font style='font-family:Arial Narrow;font-size:11pt;' >2017</font><font style='font-family:Arial Narrow;font-size:11pt;' >, the Company&#8217;s repurchase agreements had remaining maturities as summarized below:</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:13.5pt;' ><td colspan='2' rowspan='1' style='width:225pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:225pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-style:italic;color:#000000;' >($ in thousands)</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:14.25pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;border-top-style:solid;border-top-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:213.75pt;border-top-style:solid;border-top-width:2;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td colspan='2' rowspan='1' style='width:63pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >OVERNIGHT</font></td><td colspan='2' rowspan='1' style='width:63pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >BETWEEN 2</font></td><td colspan='2' rowspan='1' style='width:63pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >BETWEEN 31</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >GREATER </font></td><td style='width:14.25pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:2;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td colspan='2' rowspan='1' style='width:63pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >(1 DAY OR</font></td><td colspan='2' rowspan='1' style='width:63pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >AND</font></td><td colspan='2' rowspan='1' style='width:63pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >AND</font></td><td style='width:7.5pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >THAN</font></td><td style='width:14.25pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td colspan='2' rowspan='1' style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >LESS)</font></td><td colspan='2' rowspan='1' style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >30 DAYS</font></td><td colspan='2' rowspan='1' style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:63pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >90 DAYS</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >90 DAYS</font></td><td style='width:14.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >TOTAL</font></td></tr><tr style='height:12.75pt;' ><td colspan='12' rowspan='1' style='width:546.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:546.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >June 30, 2018</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:225pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:225pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Fair market value of securities pledged, including</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:14.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >accrued interest receivable</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,916,675</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,741,654</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:14.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >3,658,329</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:225pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:225pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Repurchase agreement liabilities associated with</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:14.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >these securities</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,794,668</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,655,186</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:14.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >3,449,854</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:225pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:225pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Net weighted average borrowing rate</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >- </font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >2.13%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >2.00%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >- </font></td><td style='width:14.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >2.07%</font></td></tr><tr style='height:12.75pt;' ><td colspan='12' rowspan='1' style='width:546.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:546.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;font-weight:bold;color:#000000;' >December 31, 2017</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:225pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:225pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Fair market value of securities pledged, including</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:14.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >accrued interest receivable</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,983,958</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,266,590</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >475,975</font></td><td style='width:14.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >3,726,523</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:225pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:225pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Repurchase agreement liabilities associated with</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:14.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:11.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >these securities</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,871,833</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1,208,518</font></td><td style='width:7.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >453,435</font></td><td style='width:14.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >$</font></td><td style='width:55.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >3,533,786</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:225pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:225pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >Net weighted average borrowing rate</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >-</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.53%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.53%</font></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:7.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.57%</font></td><td style='width:14.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:14.25pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' ></font></td><td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:55.5pt;' ><font style='font-family:Arial Narrow;font-size:10pt;color:#000000;' >1.54%</font></td></tr></table></div>
us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
56853000 USD
us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
-23861000 USD
CY2018Q2 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
14859000 USD
CY2017Q2 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
-19442000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1346000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1346000 USD
CY2018Q2 orc Common Shares Outstanding Earnings Per Share
CommonSharesOutstandingEarningsPerShare
52035000 shares
CY2018Q2 orc Effect Of Weighting
EffectOfWeighting
495000 shares

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