Loans – A Camet http://acamet.org/ Tue, 16 Aug 2022 05:47:33 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://acamet.org/wp-content/uploads/2021/04/a-camet-icon-150x150.png Loans – A Camet http://acamet.org/ 32 32 Bank of Queensland raises savings account rate to 3.50% pa https://acamet.org/bank-of-queensland-raises-savings-account-rate-to-3-50-pa/ Tue, 16 Aug 2022 05:47:33 +0000 https://acamet.org/bank-of-queensland-raises-savings-account-rate-to-3-50-pa/

Leading ING and Westpac, Bank of Queensland will grow its Future Saver account for young Australians to market-leading 3.50% pa

The increase follows ING’s decision to raise its own savings rate on Savings Maximiser products to 3.10% per annum earlier this month.

Once again Bank of Queensland (BOQ) will feature the market leading savings account rate in the Savings.com.au market research.

The tariff applies to young Australians aged 14 to 35 and will take effect from August 17.

The BOQ previously delayed raising its Future Saver rate in June and July following back-to-back increases in RBA cash rates.

Given a number of competitors approaching or exceeding the 3.00% per annum offer currently available from BOQ, BOQ Group said it will continue to review interest rates to ensure it remains competitive in the market.

The rate available from Wednesday consists of a base interest rate of 0.05% and a bonus rate of 3.45%. on sales up to $50,000.

To receive the full 3.50% annual rate, savers must deposit $1,000 and complete five cleared card transactions in their linked everyday account each month.

Balances above $50,000 also get a boost, with a base and bonus interest structure of 1.50% per annum in total.

BOQ will also increase:

  • smart saver from 0.50% to 2.85% per year for balances between $1 and $250,000.
  • Simple saver 0.50% to 1.50% per annum for balances up to $5 million.

Virgin Money follows leader in raising rates for savers

Virgin Money also announced an increase of 0.50% per annum across its range of savings account products.

From Wednesday, Virgin Money customers will be able to earn 2.80% per year when they meet the monthly criteria, then up to 3.10% per year when they activate the option Lock Saver function for sales up to $250,000 combined.

This rate is now comparable to that of ING’s Savings Maximizer when the Lock Saver function is activated.

For Virgin Money customers, activating the Lock Saver feature requires 32 days notice to unlock their account or withdraw money from that account.

To qualify for the 2.80% per annum rate, Virgin Money customers must:

  • Deposit at least $2,000 in their Go account at another financial institution if you are 25 or older.
  • Deposit at least $1,000 in their Go account with another financial institution if you are between 18 and 24 years old.
  • Make at least five purchases on their Go account that have settled in that month (not pending).

To qualify for the 3.10% per annum rate, Virgin Money customers must:

  • Deposit at least $2,000 into their Go account at another financial institution.
  • Deposit at least $1,000 in their Go account with another financial institution if you are between 18 and 24 years old.
  • Make at least five purchases on their Go account that have settled in that month (not pending).
  • Activate the Lock Saver feature on the Boost Saver account.

There is no applicable monthly requirement for customers aged 14 to 18.


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Need a place to store cash and earn interest? The table below shows savings accounts with some of the highest interest rates on the market.

Rates based on a savings balance of $10,000. Sorted by total interest rates. Check the providers’ websites for terms of bonus rates and applicable fees and charges. Rates correct as of August 16, 2022. See disclaimer.


Image by Patti Black via Unsplash

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Indians should be aware of the dangers of cryptocurrency https://acamet.org/indians-should-be-aware-of-the-dangers-of-cryptocurrency/ Sun, 14 Aug 2022 15:23:51 +0000 https://acamet.org/indians-should-be-aware-of-the-dangers-of-cryptocurrency/

According to the United Nations, between 800 and 2,000 billion dollars are laundered each year in the world, which represents 2 to 5% of the world’s gross domestic product. Of this number, more than 90% are not detected. The exact volume of crypto laundering has yet to be established. However, there are some indicative statistics on the Internet.

A report by Cipher Trace indicates that crypto thefts, hacks and frauds totaled $1.36 billion in the first five months of 2020, compared to $4.5 billion in 2019.

According to the Chainalysis report, criminals laundered $2.8 billion in 2019 using crypto exchanges, up from $1 billion in 2018.

In 2019, total bitcoin spending on the dark web was $829 million, or 0.5% of all bitcoin transactions.

Earlier this year, a complaint was lodged with the IFSO unit of the New Delhi Special Cell by a woman alleging that she was being abused and threatened by strangers who sent her made-up and vulgar photographs to her family, friends. friends and family through social media. media.

The complainant had taken out a loan from a lending app, namely Cash Advance (Danakredit), which she repaid on time. But after repaying said amount, she started receiving threatening calls and WhatsApp messages from Cash Advance employees. The complainant further observed that the alleged scammers used the profile picture of a “senior police officer”.

During the investigations, money trails of alleged transactions were established and it was found that the money was transferred to a current account which had been opened in the name of Balaji Technology. Additionally, it was discovered that the technology name Balaji was used in a motorcycle repair shop. The owner of the account was found in the name of Rohit Kumar, a resident of Rajeev Nagar, Delhi. It was further found that in the alleged account, about Rs 8.45 crore was credited in just 15 days and the same sum was simultaneously transferred to other accounts.

During the interrogation of all the defendants, it was found that if a necessary person wants to borrow a loan through the applications available online, he must first download the said application. At the time of downloading, the app asks for permission to capture, contact list, photo gallery and other personal data from the loan seeker’s phone.

As soon as permission was granted by the loan seeker, all their data was transferred to the Chinese servers. Once this process is completed, the scammers immediately got the loan amount transferred to the account of the loan seeker. One team was tracking these loan seekers and another was calling the loan seekers and their associates like close friends etc through different cell phone numbers to refund the loan seeker’s money. Even after the money was refunded, the alleged accused used to extort more money from the loan seeker and also started sharing the transformed vulgar photos of the loan seeker with his family, relatives and friends. friends to pressure victims into paying more money. The money paid by the victims was funneled through cryptocurrency links to China.

In another incident last year, Pawan Kumar Pandey, accused of running a shadow company to transfer defrauded money to his so-called ‘handlers in China’, was arrested last year in Noida in the district of Gautam Buddh Nagar in Uttar Pradesh. 19 laptops, 592 SIM cards, 5 mobile phones, 4 ATM cards and a passport were also recovered from him.

Uttarakhand police said the racketeering came to light following a complaint from two Haridwar residents: Rohit Kumar and Rahul Kumar Goyal.

“The plaintiffs claimed that a friend of theirs told them about a mobile app on Google Play Store named Power Bank, which doubled the return on investment in 15 days. Believing him, they downloaded the app and deposited 91 ₹200 and ₹73,000,” Uttarakhand Police revealed.

An investigation was launched by the special task force which found that the mobile app in question was available on Google Play Store between February 2021 and May 12, 2021, during which time it was downloaded by at least 50 lakh people . He also found that money deposited through the app was then transferred to the bank accounts of arrested defendants through payment gateways. After the cyber forensic investigation, it was learned that the app was linked to China, where Pandey’s managers are seated. They used to cash in the cryptocurrencies in their local currency to end the money laundering chain, which started by duping Indians through the app.

Cryptocurrency is digital or virtual currency protected by encryption. Cryptocurrencies are unique in that they are not issued by any central authority, making them potentially resistant to government intervention or manipulation. The biggest criticism facing cryptocurrencies is their use for illegal activities.

Advances in technology have given criminals faster and more secure options for washing away their ill-gotten money. There is no doubt that cryptocurrencies are a very useful technological innovation that helps individuals and institutions to access financial products and services in a faster and more profitable way. However, their rise as alternative value transfer and investment tools also raises money laundering concerns.

Cryptocurrencies are rapidly gaining popularity, but not everyone agrees as many governments have banned trading and trading in these digital tokens. While there are apparently over 5,000 known cryptocurrencies in the world today, analysts and experts still anticipate a rapid increase in the value of Bitcoin, the oldest and most valuable cryptocurrency in the world. . However, while some countries, like India, are slowing down their crypto markets, others, like Russia, Morocco, Egypt, and Bangladesh, are tightening. Recently, the Chinese central bank announced that all cryptocurrency transactions are illegal in the country.

The danger is that cryptocurrencies are a simple fact that cryptocurrencies are unregulated. They are currently unregulated by governments and central banks. However, recently they have started to attract more attention.

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CHESAPEAKE GRANITE WASH TRUST Trustee’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q) https://acamet.org/chesapeake-granite-wash-trust-trustees-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ Fri, 12 Aug 2022 20:37:12 +0000 https://acamet.org/chesapeake-granite-wash-trust-trustees-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/

Introduction


The following discussion and analysis is intended to help the reader understand
the Trust's financial condition and results of operations. This discussion and
analysis should be read in conjunction with the Trust's unaudited interim
financial statements and the accompanying notes relating to the Trust and the
Underlying Properties included in Item 1 of Part I of this Quarterly Report as
well as the Trust's 2021 Form 10-K.

RECENT DEVELOPMENTS

COVID-19 pandemic and impact on global demand for Oil and natural gas


The global spread of COVID-19 has created significant volatility, uncertainty,
and economic disruption. The pandemic has resulted in widespread adverse impacts
on the global economy and on Diversified and Diversified's customers and other
parties with whom it has business relations. To date, Diversified has
experienced limited operational impacts as a result of COVID-19 or the related
governmental restrictions.

We cannot predict the full impact that COVID-19 or the current significant
disruption and volatility in the oil and natural gas markets will have on
Diversified's business, cash flows, liquidity, financial condition and results
of operations. For additional discussion regarding risks associated with the
COVID-19 pandemic, see Part II, Item 7. Trustee's Discussion and Analysis of
Financial Condition and Results of Operations in our 2021 Form 10-K and Item 1A
"Risk Factors" in our 2021 Form 10-K.

Military conflict in Ukraine


We are actively monitoring the military conflict in Ukraine and assessing its
impact on the Trust's business. To date, we have not experienced any material
interruptions to our business given our properties are exclusively located
within the United States. The extent and duration of the military action,
sanctions and resulting market disruptions could be significant, including
significant volatility in commodity prices, supply of energy resources,
instability in financial markets, supply chain interruptions, political and
social instability, changes in consumer or purchaser preferences as well as
increases in cyberattacks and espionage, each of which could have a substantial
impact on the global economy and consequently our business for an unknown period
of time. We currently do not expect any material impact on the Trust's business,
cash flows, liquidity or financial condition; however, we have no way to predict
the progress or outcome of the military conflict in Ukraine as the conflict, and
any resulting government reactions, are rapidly developing and beyond our
control.

Insight


The Trust is a statutory trust formed in June 2011 under the Delaware Statutory
Trust Act. The business and affairs of the Trust are managed by the Trustee and,
as necessary, the Delaware Trustee. The Trust does not conduct any operations or
activities other than owning the Royalty Interests and activities related to
such ownership. The Trust's purpose is generally to own the Royalty Interests,
to distribute to the Trust unitholders cash that the Trust receives in respect
of the Royalty Interests and to perform certain administrative functions in
respect of the Royalty Interests and the Trust units. The Trust derives all or
substantially all of its income and cash flow from the Royalty Interests. The
Trust is treated as a partnership for U.S. federal income tax purposes.

Concurrent with the Trust's initial public offering in November 2011, Chesapeake
conveyed the Royalty Interests to the Trust effective July 1, 2011, which
included interests in (a) 69 Producing Wells in the Colony Granite Wash play and
(b) 118 Development Wells that Chesapeake was obligated to drill, cause to be
drilled or participate as a non-operator in the drilling of, from drill sites in
the AMI, on or prior to June 30, 2016. As of June 30, 2016, Chesapeake fulfilled
its drilling obligation under the development agreement. Chesapeake retained an
interest in each of the Producing Wells and Development Wells, which were
acquired by Diversified pursuant to the Assignment Agreement and the Merger, and
Diversified currently operates 96% of the Producing Wells and the completed
Development Wells.
                                       10
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The Trust was not responsible for any costs related to the drilling of the
Development Wells and is not responsible for any other operating or capital
costs of the Underlying Properties, and Chesapeake was not permitted to drill
and complete any well in the Colony Granite Wash formation on acreage included
within the AMI for its own account until it had satisfied its drilling
obligation to the Trust.

The Royalty Interests entitle the Trust to receive 90% of the proceeds (after
deducting certain post-production expenses and any applicable taxes) from the
sales of production of oil, natural gas and NGL attributable to Diversified's
net revenue interest in the Producing Wells and 50% of the proceeds (after
deducting certain post-production expenses and any applicable taxes) from the
sales of oil, natural gas and NGL production attributable to Diversified's net
revenue interest in the Development Wells. Post-production expenses generally
consist of costs incurred to gather, store, compress, transport, process, treat,
dehydrate and market the oil, natural gas and NGL produced. However, the Trust
is not responsible for costs of marketing services provided by Diversified or
Diversified affiliates.

The Trust is required to make quarterly cash distributions of substantially all
of its cash receipts, after deducting the Trust's administrative expenses, on or
about 60 days following the completion of each calendar quarter through (and
including) the quarter ending June 30, 2031. During the six months ended
June 30, 2022, a distribution was paid on March 3, 2022 and May 31, 2022. See
Liquidity and Capital Resources below and   Note 5   to the financial statements
contained in Item 1 of Part I of this Quarterly Report for more information
regarding these distributions.

The amount of Trust income and cash distributions to Trust Unitholders will fluctuate from quarter to quarter depending on several factors, including but not limited to:

• Timing and amount of production and sales from development and production wells;

• Price of oil, natural gas and NGLs received;

•Volumes of oil, natural gas and NGLs produced and sold;

•Certain post-production expenses and all applicable taxes; and

•Trust expenses.

Results of fiduciary operations


The quarterly payments to the Trust with respect to the Royalty Interests are
based on the amount of proceeds actually received by Diversified during the
preceding calendar quarter. Proceeds from production are typically received by
Diversified in the month following the month of production. Due to the timing of
the payment of production proceeds, quarterly distributions made by Diversified
to the Trust generally include royalties attributable to sales of oil, natural
gas and NGL for three months, comprised of the first two months of the quarter
just ended and the last month of the quarter prior to that one. Diversified is
required to make the Royalty Interest payments to the Trust within 35 days after
the end of each calendar quarter. During the six months ended June 30, 2022, the
Trust received payments on the Royalty Interests representing royalties
attributable to proceeds from sales of oil, natural gas and NGL for September 1,
2021 to February 28, 2022.

The Trust's revenues and distributable income available to unitholders were
affected throughout 2021 and to date in 2022 by natural declines in production
and commodity price volatility. The Trust expects production to decline further
and expects distributable income to continue to be adversely affected.

The Trust's Investment in Royalty Interests is subject to a quarterly full cost
ceiling test. The Trust recognized no impairment of the Royalty Interests in the
Current Period or the Current Quarter. The Trust recognized a $0.84 million
impairment of the Royalty Interests in the Prior Period with no impairment of
Royalty Interests in the Prior Quarter. See Investment in Royalty Interests in

Note 2 to the financial statements appearing in point 1 of part I of this quarterly report for a more in-depth analysis.

                                       11
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Distributable Income

                                                        Three Months Ended June 30,                                   Six Months Ended June 30,
                                                 2022                 2021              Change                2022                2021              Change
                                                                                 ($ in thousands, except per unit data)
Distributable income available to
unitholders                                $        2,524          $  2,182                 16  %       $       5,644          $  2,476                

128%

Distributable earnings per ordinary share $0.0540 $0.0467

                16  %       $      0.1207          $ 0.0530                128  %



The $0.34 million increase in distributable income during the Current Quarter
was primarily due to an increase in the average realized price per boe in the
production period from December 1, 2021 to February 28, 2022 (the "Current
Production Quarter") as compared to the production period from December 1, 2020
to February 28, 2021 (the "Prior Production Quarter"), combined with an increase
in total sales volumes in the Current Production Quarter. The $3.17 million
increase in distributable income during the Current Period was a result of both
an increase in the average realized price per boe and an increase in total sales
volumes as compared to the Prior Period.

Royalty Income

                                              Three Months Ended June 30,                                   Six Months Ended June 30,
                                       2022                2021              Change                2022                2021              Change
                                                                       ($ in thousands, except per unit data)
Royalty income(a)                $       3,233          $ 2,546                   27  %       $      6,926          $ 3,500                   98  %

Estimated production from trust
properties:
Oil sales volumes (MBbl)                    14                9                   56  %                 30               19                   58  %
Natural gas sales volumes (MMcf)           304              285                    7  %                639              626                    2  %
Natural gas liquids sales
volumes (MBbl)                              37               31                   19  %                 77               62                   24  %
Total sales volumes (Mboe)                 102               88                   16  %                213              186                   15  %

Average prices received for
production(b):
Oil ($/Bbl)                      $       78.36          $ 46.01                   70  %       $      76.08          $ 39.52                   93  %
Natural gas ($/Mcf)              $        3.27          $  5.25                  (38) %       $       3.35          $  2.76                   21  %
Natural gas liquids ($/Bbl)      $       30.35          $ 19.87                   53  %       $      32.87          $ 16.15                  104  %
Total average price received
($/boe)                          $       31.79          $ 28.99                   10  %       $      32.50          $ 18.84                   73  %


(a) Net of certain post-production costs.

(b) Includes the impact of certain post-production expenses but excludes production taxes.

(c) The Trust was affected by lower commodity prices in early 2021 due to the impact of COVID-19


The increase in the average price received per barrel of oil equivalent (boe) in
the Current Production Quarter compared to the Prior Production Quarter resulted
in an increase of approximately $0.29 million in royalty income. Additionally,
higher sales volumes in the Current Production Quarter increased royalty income
by approximately $0.40 million, for a total increase in royalty income of
approximately $0.69 million in the Current Production Quarter compared to the
Prior Production Quarter. The 14 mboe increase in total sales attributable to
the Royalty Interests for the Current Production Quarter compared to the Prior
Production Quarter is primarily the result of improved operational performance,
offset by natural declines in production from the Producing and Development
Wells.
                                       12
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The increase in the average price received per boe in the Current Period
compared to the Prior Period resulted in an increase of approximately $2.91
million in royalty income. Additionally, higher sales volumes in the Current
Period increased royalty income by approximately $0.52 million, for a total
increase in royalty income of approximately $3.43 million in the Current Period
compared to the Prior Period. The 27 mboe increase in total sales attributable
to the Royalty Interests for the Current Period compared to the Prior Period is
primarily the result of improved operational performance, offset by natural
declines in production from the Producing and Development Wells.


Production Taxes

                                                       Three Months Ended June 30,                              Six Months Ended June 30,
                                                2022             2021             Change                2022               2021             Change
                                                                              ($ in thousands, except per unit data)
Production tax expenses                      $    228          $  187                 (22) %       $        491          $  243                 102  %

Production taxes per boe                     $   2.24          $ 2.13                  (5) %       $       2.31          $ 1.31                  76  %


Production taxes are calculated as a percentage of oil, natural gas and NGL
revenues, net of any applicable tax credits. The increase in production taxes in
the Current Quarter and Current Period compared to the Prior Quarter and Prior
Period relates primarily to an increase in royalty income.

Administrative expenses of the trust

                                                    Three Months Ended June 30,                          Six Months Ended June 30,
                                             2022             2021             Change              2022            2021            Change
                                                                                   ($ in thousands)
Trust administrative expenses(a)          $    382          $   95                 302  %       $   593          $ 629                 (6) %


(a) Includes a change in cash advances leading to a $0.10 million increase and no adjustment of administrative expenses for quarters and semesters
June 30, 2022.


Trust administrative expenses primarily consist of the administrative fees paid
to the Trustees and Diversified, as well as costs for accounting and legal
services. The increase in expenses in the Current Quarter is primarily related
to the net changes in the cash advance of $0.33 million. The decrease in
expenses in the Current Period is due to a reduction for the change in cash
advance of $0.30 million in the Prior Period offset by an increase in
administrative expense activity of $0.34 million primarily related to the timing
of accounting and tax preparation expenses.
                                       13
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Cash and capital resources


The Trust's principal sources of liquidity and capital are cash flows generated
from the Royalty Interests and the loan commitment as described below. The
Trust's primary uses of cash are distributions to Trust unitholders, payments of
production taxes, payments of Trust administrative expenses, including any
reserves established by the Trustee for future liabilities and repayment of
loans and payments of expense reimbursements to Diversified for out-of-pocket
expenses incurred on behalf of the Trust. Administrative expenses include
payments to the Trustees, as well as a quarterly fee of $50,000 to Diversified
pursuant to an administrative services agreement. Each quarter, the Trustee
determines the amount of funds available for distribution. Available funds are
the excess cash, if any, received by the Trust from the sales of oil, natural
gas and NGL production attributable to the Royalty Interests during the quarter,
over the Trust's expenses for the quarter and any cash reserve for the payment
of liabilities of the Trust. The Trust does not undertake or control any capital
projects or capital expenditures. These capital expenditures, if any, are
controlled and paid by Diversified.

The Trust's revenue and distributions are substantially dependent upon the
prevailing and future prices for oil, natural gas and NGL, each of which depends
on numerous factors beyond the Trust's control such as economic conditions,
regulatory developments and competition from other energy sources. Oil, natural
gas and NGL prices historically have been volatile and may be subject to
significant fluctuations in the future; however, the volatility in the prices
for these commodities has substantially increased as a result of COVID-19. We
expect to see continued volatility in oil and natural gas prices for the
foreseeable future, and such volatility has impacted and is expected to continue
to impact Diversified's business, financial condition and results of operations
and proceeds to the Trust and the Trust's reserves and quarterly cash
distributions to unitholders. The Trust does not have the ability to enter into
derivative contracts to mitigate the effect of this price volatility.

The Trustee may increase or decrease the targeted amount of the cash reserve at
any time, and may increase or decrease the rate at which it is withholding funds
to build the cash reserve at any time, without advance notice to the
unitholders. Without limiting the foregoing, the Trustee has reviewed the
adequacy and sufficiency of the existing cash reserve and determined that,
commencing with the distribution to unitholders for the fourth quarter 2021,
which was paid in March 2022, the Trustee began withholding the funds otherwise
available for distribution to the unitholders each quarter to increase existing
cash reserves by a total of approximately $3,200,000 over a period of several
quarters. Cash held in reserve will be invested as required by the Trust
Agreement. Any cash reserved in excess of the amount necessary to pay or provide
for the payment of future known, anticipated or contingent expenses or
liabilities eventually will be distributed to unitholders, together with
interest earned on the funds. As of June 30, 2022, $992,078 has been so withheld
to increase cash reserves.

The Trust is required to make quarterly cash distributions of substantially all
of its cash receipts, after deducting the Trust's administrative expenses, on or
about 60 days following the completion of each calendar quarter through (and
including) the quarter ending June 30, 2031. The 2022 second quarter
distribution of $0.0540 per common unit, consisting of proceeds attributable to
production from December 1, 2021 through February 28, 2022, (net of
administrative expenses) was made on May 31, 2022 to record unitholders as of
May 20, 2022.





                                       14
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On August 3, 2022, the Trust declared the August 2022 Distribution. The Trust's
quarterly income available for distribution was $0.0849 per common unit
consisting of proceeds attributable to production from March 1, 2022 to May 31,
2022 (net of administrative expenses). The distribution will be paid on
August 29, 2022 to common unitholders of record as of August 19, 2022. All Trust
unitholders share on a pro rata basis in the Trust's distributable income.
Distributable income attributable to production from March 1, 2022 to May 31,
2022 was calculated as follows (in thousands, except for unit and per unit
amounts):

         REVENUES:
         Royalty income(a)                                        $  4,429

         EXPENSES:
         Production taxes                                             (308)
         Trust administrative expenses(b)                              (54)
         Total expenses                                               (362)
         Cash withheld to increase cash reserves                       (99)
         Distributable income available to common unitholders     $  3,968

         Distributable income per common unit(c)                  $ 0.0849

(a) Net of certain post-production costs.

(b) Includes the quarterly change in the cash advance leading to an increase in administrative expenses totaling $0.1 million.

(c) The calculation of distributable income per Ordinary Unit is based on 46,750,000 Ordinary Units issued and outstanding at August 9, 2022


The Trustee can authorize the Trust to borrow money to pay Trust expenses that
exceed cash held by the Trust. The Trustee may authorize the Trust to borrow
from the Trustee as a lender provided the terms of the loan are fair to the
Trust unitholders. The Trustee may also deposit funds awaiting distribution in
an account with itself, if the interest paid to the Trust at least equals
amounts paid by the Trustee on similar deposits, and make other short-term
investments with the funds distributed to the Trust. The Trustee may also hold
funds awaiting distribution in a non-interest-bearing account.

Pursuant to the Trust Agreement, if at any time the Trust's cash on hand
(including cash reserves, if any) is not sufficient to pay the Trust's ordinary
course expenses as they become due, Diversified will loan funds to the Trust
necessary to pay such expenses. Any funds loaned by Diversified pursuant to this
commitment will be limited to the payment of current accounts payable or other
obligations to trade creditors in connection with obtaining goods or services or
the payment of other current liabilities arising in the ordinary course of the
Trust's business and may not be used to satisfy Trust indebtedness for borrowed
money of the Trust. If Diversified loans funds pursuant to this commitment,
unless Diversified agrees otherwise in writing, no further distributions may be
made to unitholders (except in respect of any previously determined quarterly
cash distribution amount) until such loan is repaid. There were no loans
outstanding as of June 30, 2022 and December 31, 2021.

Significant Accounting Policies and Estimates


Refer to   Note 2   to the financial statements contained in Item 1 of Part I of
this Quarterly Report for a discussion of significant accounting policies and
estimates that impact the Trust's financial statements. Critical accounting
policies and estimates relating to the Trust are contained in Item 7 of Part II
of the 2021 Form 10-K.
                                       15

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© Edgar Online, source Previews

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PenFed Pathfinder® Rewards Visa Signature Credit Card Review 2022 – Forbes Advisor https://acamet.org/penfed-pathfinder-rewards-visa-signature-credit-card-review-2022-forbes-advisor/ Wed, 10 Aug 2022 13:00:01 +0000 https://acamet.org/penfed-pathfinder-rewards-visa-signature-credit-card-review-2022-forbes-advisor/

PenFed Pathfinder® Rewards Visa Signature® Card* vs. Chase Freedom Flex℠

The Chase Freedom Flex℠ is a Forbes advisor favorite, topping our list of best credit cards. The card offers strong rewards without charging an annual fee or having membership requirements like the PenFed Pathfinder. For the most part, the Chase Freedom Flex will offer a more lucrative return on rewards.

The Freedom Flex earns 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards®, 3% on restaurants and pharmacies and 1% on all other purchases and offers a welcome bonus: $200 bonus after spending $500 on purchases within the first 3 months of account opening.

The Freedom Flex, however, falls short of the Pathfinder Rewards card when it comes to added benefits; you won’t find travel expense credits among the Freedom Flex benefits. It also charges a foreign transaction fee, 3% of each transaction in US dollars, so it’s not a good choice for overseas use.

PenFed Pathfinder® Rewards Visa Signature® Card* against the Platinum Card® from American Express

The Platinum Card® from American Express (conditions apply. See rates & fees) offers more benefits than almost any other card on the market, but, with an annual fee of $695, it doesn’t come cheap.

The Platinum card offers multiple lounge access (including Priority Pass) with registration, TSA PreCheck/Global Entry fee credit, CLEAR® membership fee credit, annual airline fee credit, Gold status with Marriott and Hilton upon signup, Uber Cash credits totaling up to $200 per year and more.

The Platinum Card earns 5 Membership Rewards points per dollar for flights booked directly with the airlines or with American Express Travel up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other qualifying purchases. and offers a welcome bonus: 100,000 Membership Rewards points after spending $6,000 on card purchases within the first 6 months of card membership.

Someone who seeks the benefits of the most elite credit card and won’t flinch too hard on the high annual fees of the Amex Platinum card may ultimately be able to extract more value from the Amex Platinum than the Pathfinder card. , but the Pathfinder Card’s annual fee (or lack thereof for those who qualify) makes it worthy of consideration for those who don’t need all the bells and whistles of the Amex Platinum Card.

PenFed Pathfinder® Rewards Visa Signature® Card* vs. USAA® Rewards™ Visa Signature® Card*

Like the Pathfinder Rewards card and PenFed, you will need to be a member of a USAA credit union to apply for the USAA® Rewards™ Visa Signature® card.*. Eligible individuals will find the USAA Rewards Visa Signature card to be worth considering.

The card earns 2 points per dollar on gas and restaurants and 1 point per dollar on all other purchases and does not charge an annual fee. It offers additional travel-related benefits, but they are different from those offered by the Pathfinder Rewards card. With the USAA Rewards Card, you can get car rental collision damage waiver, travel accident insurance, trip cancellation and interruption coverage, baggage delay and interruption coverage, and extended warranty coverage.

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What you need to know before opening a new credit card https://acamet.org/what-you-need-to-know-before-opening-a-new-credit-card/ Mon, 08 Aug 2022 16:55:00 +0000 https://acamet.org/what-you-need-to-know-before-opening-a-new-credit-card/ One way to establish your credit history is to open and use a credit card.

Is your credit rating high enough?

Most cards have credit score requirements, among other criteria, so it’s important to determine what your score is and if it’s good enough for you to be approved.

But what exactly constitutes a good credit rating?

Ted Rossman, senior industry analyst at Bankrate.com, explains that a great credit rating is “generally defined [as] 740 or higher on the FICO scale, which ranges from 300 to 850.” The FICO score represents the likelihood of you paying off your credit card bill based on previous payments.

Although many credit cards have a FICO score threshold of 670, this is not a hard limit.

“The average FICO score is 716, so most people are in the right ballpark for most cards,” Rossman said.

If you want to boost your credit score, Rossman said the key is paying your credit card bills on time, keeping your low balance and prove that you can successfully manage various types of credit over the long term. And that can take time.

“A lot of this is a marathon, not a sprint,” he noted.

For those trying to improve a lower credit score or looking to build credit, Rossman suggests secured cards, which are backed by a security deposit and are often held in a linked bank account. It works as a guarantee if you fail to pay your monthly bill.

These cards also have strict limits and do not allow cardholders to spend more money than they deposited in advance. So if your security deposit was $500, your spending limit will be $500.

What rewards does it offer?

There are three main types of credit card rewards: cash back, points and miles.

Cash back rewards pay cardholders a percentage of what they spend on purchases. Accumulated cash can usually be redeemed in the form of a check or direct deposit, applied to future balances as statement credit, or sometimes used to make purchases.

How long will it take to pay off my credit cards?

Points and miles rewards cards offer cardholders the ability to redeem their rewards for travel and other products and services.

Whatever form of rewards you choose, you’ll want to make sure it helps you get the most out of your purchases.

Start by thinking about how you spend your money. While some cards offer more rewards for spending categories like travel and dining, others offer better benefits for grocery shopping and gas. Others will alternate which categories offer the highest rewards, or even let you choose.

Many people prefer cash back because it’s easier to navigate and doesn’t require tracking purchase categories, according to Rossman. He suggests finding a card that offers 2% cash back on every purchase.

If you’re willing to play around with different cards to get more rewards, Rossman recommends having a cashback card for general purchases, then layering other cards for more specific categories.

“Use something like [a general cash back card] as a floor, ensuring you never get less than 2% cash back on any given purchase, and prioritize categories where you spend a lot of money,” Rossman said.

Pay attention to fees

While many banks won’t charge you anything just for having a credit card, some reward cards will charge an annual fee, typically ranging from $95 per year to $695.

“For the most part, the better the rewards, the higher the annual fee,” said David Lord, managing director of Credit.com.

Although some of these fees may seem high, they can be worth it if you know you will use all the benefits offered by the card.

“These are often travel cards with premium benefits,” Rossman said. “The annual fee might be worth it if you want to make good use of the airport lounge, free checked bags or other perks, but not if you travel infrequently.”

Another common commission is the foreign transaction commission, which typically adds 3% to the purchase price of products and services purchased in other countries. If you travel internationally often, you’ll want to avoid cards that charge such fees.

Most cards will also charge a late payment fee.

“Up to $30 for the first offense and up to $41 for subsequent offenses within six billing cycles,” Rossman said.

Another important fee to consider is cash advance fees. But Rossman advises against using a credit card to get cash. “There are separate fees, and interest starts accruing immediately at a higher rate than normal purchases.”

How high are the interest rates?

While credit card interest rates can reach 36%, the average credit card charges around 17%, according to Bankrate. These fees can really add up if you don’t pay your balance every month. For those with a balance, accrued interest can easily nullify any rewards offered by the card.
How to take advantage of rising interest rates

“It doesn’t make sense to chase 1%, 2%, or even 5% cash back (or an equivalent amount of airline miles or hotel points) if you’re paying a high interest rate,” he said. Rossman.

But determining the interest rate may not be as simple as it seems. Cards often charge different rates on purchases versus balance transfers or cash advances. And most credit card issuers offer variable rates, which means they can change over time.

Many cards also offer a launch rate – some as low as 0% – for a certain period of time. But cardholders should be aware that the rate may skyrocket at the end of the period.

As long as you are diligent in redeeming the card before the introductory period expires, a 0% rate on purchases can prove to be a significant financial benefit. This is especially true for people who are looking to make a few big purchases — like a vacation or a wedding — early in the term, but need a bit more time to pay them off.

“You can divide what you owe by the number of months left and try to stick with it,” Rossman said. “I think that makes more sense than constantly making a series of purchases with the 0% card.”

All in all, when selecting this new plastic, there is no one-size-fits-all solution. Instead, it’s all about researching and finding what works best for you.

“[The] the devil is in the details, go over the fine print,” Lord said.

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Maple Lawn Needs County Bailout From COVID-19 Financial Crisis https://acamet.org/maple-lawn-needs-county-bailout-from-covid-19-financial-crisis/ Sat, 06 Aug 2022 09:30:20 +0000 https://acamet.org/maple-lawn-needs-county-bailout-from-covid-19-financial-crisis/

Maple Lawn, the Branch County-owned nursing facility, is facing a financial crisis caused by the COVID-19 pandemic.

Without a short-term cash injection of nearly $1 million, retirement home administrator Jane Sabaitis warned, “We won’t be able to make payroll.”

She also asked the county commission for long-term relief in the form of a 0.99 property tax mile over 10 years. This is expected to go on the November general election ballot requiring a decision from the commission by August 16.

Commissioner Tom Matthew said a half mill had already been approved from 2016 to 2035 for the latest expansion and upgrades. He is not ready to ask more of the citizens.

“We have to work with what we have,” he said.

This mileage tax revenue can only be used for the payment of obligations.