I think the question that should be asked is "how are they...

I think the question that should be asked is "how are they spending $3m in brokerage to make $1m in trading profits if they're paying market rates for brokerage?".

"we are as good as making your business"

Outside of HML, BHD and other related entities, what brokerage revenue does JBTH have?

The whole thing just looks like a typical JBL scheme, pumping up the revenue/nta of one entity via an arrangement with another, of course all made possible with our money. Can they ultimately pull it off though? I'm starting to doubt it given their inability to keep their "listed" companies trading.