Ann: June 2020 Appendix 4C Investor Presentation, page-3

Yep, their trajectory is very impressive. These guys are paying themselves well but at least the work ethic seems to be in place to drive growth and expand the business.

I like that they have 6.8m in assets and a pretty healthy bank balance that may be enough to get us through a year or so if we stay cash flow positive. No debt helps and as you say they've brought on 2 recent new hires to build more AUM and possible JV's.

With the new Student Real Estate JV we're looking to achieve another $50m on that alone. Not sure how long that might take but it's another smart move, imo, for the company in this environment and for their projected $250m for this JV alone!

Well done management!