value stock imho , page-12

I went to one of the recent shareholder briefings.

The company is trading at a huge discount to NTA currently. Most of those assets are listed, hence also valued at discounted prices. eg 25 m shares in keybridge, which itself is trading at less than NTA.

There does not seem to be any issue with margin lending or overly high debt ratios.

The comany is pregressing well with options on assets which could double the assets under managment and increase recurring income to cover costs.

The main risk for them now is for the financial markets to improve enough to where they can get investors to buy into those assets. Their preference is to sell them to retail investors, hovever if that is not possible they will look at selling to institutions or even selling in Europe.

This stock provides huge leveridge to any improvement in the financial markets.