Here's an update current to close of business today. All holdings as reported in March quarterly.
We have an enterprise value of minus $2.9M excluding the value of projects shell and management expertise.
If we assume the shell plus projects is worth around $5m (more or less), then management must be worth around minus $7.9m or minus 9.5 cents per share. If this "anomaly" were removed we should see an immediate gain of 73%. (ie: $0.13 plus $0.095 = $0.225)
Montezuma update and potential, page-7
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