<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><html><head><meta content="text/html;charset=UTF-8" http-equiv="Content-Type"></head><body ><div style='font-size:10pt;font-family:Verdana,Arial,Helvetica,sans-serif;'>Hi Martin,<br><br>We once saw an ipv4 block included among hardware as part of a third party lease.<br><br>That happened years ago and really was a one-off. Generally nobody will recognize IPv4 blocks as assets.<br><br>That leaves leasing-out addresses by incumbent address holders as the only effective financing mechanism.<br><br>We have been asked about lease-to-own arrangements but policy makes those sorts of transactions very difficult.<div><br></div><div id="message"></div>Regards,<div>Mike<br id="br3"><div id="signature"></div><div id="content"><br> ---- On Mon, 21 Mar 2022 18:15:26 -0400 <b> hannigan@gmail.com </b> wrote ----<br><br><blockquote style="border-left: 1px solid rgb(204, 204, 204); padding-left: 6px; margin-left: 5px;"><div><div><br></div><div><br><div class="x_35517648gmail_quote"><div dir="ltr" class="x_35517648gmail_attr">On Sun, Mar 20, 2022 at 10:42 Martin Hannigan <<a href="mailto:hannigan@gmail.com" target="_blank">hannigan@gmail.com</a>> wrote:<br></div><blockquote class="x_35517648gmail_quote" style="margin: 0 0 0 0.8ex;border-left: 1.0px rgb(204,204,204) solid;padding-left: 1.0ex;"><div dir="ltr"><div dir="ltr"><br></div><br><div class="x_35517648gmail_quote"><div dir="ltr" class="x_35517648gmail_attr">On Fri, Mar 18, 2022 at 5:47 PM Scott Leibrand <<a href="mailto:scottleibrand@gmail.com" target="_blank">scottleibrand@gmail.com</a>> wrote:<br></div><blockquote class="x_35517648gmail_quote" style="margin: 0.0px 0.0px 0.0px 0.8ex;border-left: 1.0px solid rgb(204,204,204);padding-left: 1.0ex;"><div dir="ltr"><div dir="ltr"><br></div><br><div class="x_35517648gmail_quote"><div dir="ltr" class="x_35517648gmail_attr">On Fri, Mar 18, 2022 at 12:39 PM Mike Burns <<a href="mailto:mike@iptrading.com" target="_blank">mike@iptrading.com</a>> wrote:<br></div><blockquote class="x_35517648gmail_quote" style="margin: 0.0px 0.0px 0.0px 0.8ex;border-left: 1.0px solid rgb(204,204,204);padding-left: 1.0ex;"><div><div><p class="MsoNormal">Hi Scott,</p><p class="MsoNormal"> </p><p class="MsoNormal">I am sorry, I actually penned a long reply to your initial post but never sent it.</p><p class="MsoNormal">The limit on initial block size is the same as if you came to ARIN seeking a block not for lease, but for your circuit-connected customers. To wit, ARIN will require more than just your statement.</p><p class="MsoNormal">What’s to stop a company from claiming they will be delivering service to connected clients over the next two years, so they should get a pre-approval?</p></div></div></blockquote><div><br></div><div>They have to buy equipment and sign contracts for transit to deliver such service. That equipment is worth far less if re-sold, and those contracts cost money to terminate.</div></div></div></blockquote><div><br></div><div>Equipment can be repurposed. Contracts can provide portability of capital or resources. Contracts can have termination for convenience options. Might be more useful to think about cost of capital, risk and other factors that go into IPv4 "speculating".</div></div></div></blockquote><div dir="auto"><br></div><div dir="auto"><br></div><div dir="auto">And heres another data point. No reputable private equity firm or source of capital (that Im aware of) has funded IP speculation. I wonder why. </div><div dir="auto"><br></div><div dir="auto">Doubt you can even finance them non recourse and with a big balance sheet. </div><div dir="auto"><br></div><div dir="auto">Mike/Tom, see anything different?</div><div dir="auto"><br></div><div dir="auto"><br></div><div dir="auto"><br></div><div dir="auto"> </div><div dir="auto"><br></div><div dir="auto"><br></div><blockquote class="x_35517648gmail_quote" style="margin: 0 0 0 0.8ex;border-left: 1.0px rgb(204,204,204) solid;padding-left: 1.0ex;"><div dir="ltr"><div class="x_35517648gmail_quote"><div dir="auto"></div></div></div></blockquote></div></div>
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