But also add to that they have a review panel that can veto any...

But also add to that they have a review panel that can veto any investments that they are making, so if there is a really good deal, who's to say that they don't veto it and pass the details onto their own team?   Or kill off a deal to trigger a "review event".

So the entire equity of the business for existing shareholders is now being put into the hands of one of the most ruthless groups out there and will depend on their view of if they can make more money getting the shares up over $3 or taking the assets of the business for $49 million...

The hardest thing is, what is going to be the real recurring revenue moving forward?   The figures from the last 6/12 months are all garbage and cannot be relied upon to extrapolate into the next year - plus they have apparently sold the retirement investment, whats the impact of that going to be on recurring management fees?

This will drop below $1 before the AGM and people can ask these questions in person.