James Packer buys in, page-71

They must have lost a really big client in the post EOFY reviews. Here is my breakdown of what they're managing/ advising

CTN is $202m
CIE is $85m
CQG is $93m
SWTZ is $70m
Total $450m

Announcement says the advise $611m and we can reconcile these and the revenue they can make from each of them, and then add say 1.5% for the other $161m they manage to work out that with 20+ staff no one there is going to be earning a bonus for a few years

CTN is 1.25% + performance fee = $2.5m pa
CIE is 0.95% with no performance fee = $850k pa
CQG pays 1.25% pa + performance fee = $1.2m pa
SWTZ is $70m is 0.89% = $630k pa
Total $450m
$161m @ say 1.5% = $2.9m

= $8m annual revenue - before revenue sharing with CQG, Switzer and the non-charged fee in CTN

At $47m market cap I put this on about 100 times forward earnings....that is IF they can eek out a $500k profit this year- but with their overheads I simply can't see how that is possible. Staff would be afraid of getting a tap on shoulder to come into the boardroom for a chat

Ain't no Packer rescue saving this baby