First Life Financial Corporation (FLFC), a captive guarantee insurance company, was formed in 2005 to serve as a Non-Bank Bank subsidiary to handle non-dilutive equity financing for Protective Capital Structure Corporation (PCSO).
In conjunction with First Group, FLFC is repackaging and amending their 2007 offering to monetize their pool of promissory notes of new corporations, called Special Limited Purpose Corporation (SLPC) notes. The notes were originated from 2005-2017 and are currently held in custody PCSO. The SLPC notes represent 29 customers that have purchased or agreed to receive financing from the Business Collateral Line of Credit (BCLOC). The financing involves protective capital stock being sold in a private sale at a repackaged price of $20 per share. The transactions total 3,155,000,000 shares which gives PCSO $63 billion in cash which adds to their capital base.
–First Life Financial Corporation