October 23, 2016

Florida CEO Trends

CEO Trends Survey Results and Reactions

The Economy in 2007, Emergent Issues, Property Values, Expanding Markets

| 12/1/2006

Kathleen Shanahan
WRS Infrastructure & Environment Inc.

Financing in 2007

I believe it will be easier for us to seek a new loan or extend a current one in the coming year. Our financial performance is very strong right now.

Separate from our specific situation, there is a great deal of capital available in the market, and lending institutions appear to be more aggressive and responsive. Overall, however, I believe there has been a drop in corporate expectations of seeking financing because SOX [the Sarbanes-Oxley Act of 2002] may be having an impact on the public markets, IPO transactions and secondary offerings.

Having been the CFO of a small cap public company, I find these regulations (especially 404) very burdensome. As a result of SOX requirements, fewer transactions are being completed, which means less activity for investment banking firms and therefore more capital becoming available.

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