Nathan Latka

I thought you said it wasn't debt.

I thought you said it wasn't debt.

Sorry, I want to bang this out because we're about out of time here.

Just to repeat this back to you, a housing complex in Finland wants to install a heat ground project.

They use your marketplace to find the provider.

Let's say it's construction company A that's going to build that ground heat project.

You say, we love this project.

We're going to put up a million dollars of equity on day one, 100% of equity.

You're going to say, hey, housing project, over seven years, you're going to pay us $142,000 per year because that's a million divided by seven.

So that's how you get the payback period, right?

Mm-hmm.

So you now have cash flow and paper, right?

You have an asset you're sitting on of $142,000 per year.

You'll then take that and sell 500K of the million dollar project and go raise debt.

And you'll pay that debt interest from the cash flows from the housing complex that you're supporting.

What do you think your cost of capital would be on the 500K debt you sell off?

So I assume you come from the space and you have some ideas of what benchmarks are, right?

I mean, help me understand how you got into this space.

I mean, what got you into this space?

Did you come from this world or...?