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These excerpts taken from the WEN 10-K filed Mar 14, 2008. NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS
Deerfield
Capital Corp. (“DFR”), formerly Deerfield Triarc Capital Corp., and its
subsidiaries (collectively the “Company”) has elected to be taxed, and intends
to continue to qualify, as a real estate investment trust (“REIT”) under the
Internal Revenue Code of 1986, as amended (the “Code”). The Company primarily
invests in real estate related assets, primarily mortgage-backed securities, as
well as other alternative corporate investments. DFR was incorporated in
Maryland on November 22, 2004. The Company commenced operations on December 23,
2004.
The Company
had been externally managed by Deerfield Capital Management LLC (“DCM”) since
the commencement of its operations in December 2004. On December 17, 2007, the
Company entered into a merger agreement (the “Merger”) to acquire Deerfield
& Company LLC (“Deerfield”), the parent company of DCM. The Merger was
completed on December 21, 2007, at which time Deerfield and its subsidiaries
became indirect wholly-owned subsidiaries and the Company became internally
managed. See Note 3 for further discussion of the Merger.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Deerfield Capital Corp. (“DFR”), formerly Deerfield Triarc Capital Corp., and its subsidiaries (collectively the “Company”) has elected to be taxed, and intends to continue to qualify, as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). The Company primarily invests in real estate related assets, primarily mortgage-backed securities, as well as other alternative corporate investments. DFR was incorporated in Maryland on November 22, 2004. The Company commenced operations on December 23, 2004. The Company had been externally managed by Deerfield Capital Management LLC (“DCM”) since the commencement of its operations in December 2004. On December 17, 2007, the Company entered into a merger agreement (the “Merger”) to acquire Deerfield & Company LLC (“Deerfield”), the parent company of DCM. The Merger was completed on December 21, 2007, at which time Deerfield and its subsidiaries became indirect wholly-owned subsidiaries and the Company became internally managed. See Note 3 for further discussion of the Merger. | EXCERPTS ON THIS PAGE:
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