Absolutely right James. Plan of action. 1. Continue to grow cash...

Absolutely right James. Plan of action.

1. Continue to grow cash cow disbursements business
2. Renegotiate all debt to lower interest rate
3. Amend remuneration of directors to a reasonable level , as opposed to ridiculous.
4. Settle one case at least for cash injection.
5. Quarantine future costs of litigation to the trust not JKL

On this basis JKL could move forward with a profitable ligation business. i.e. $1M management fee, interest reduced to $2M. $6.5 + 20% growth = $7.8M + $1M = $8.8. Less $2.2M interest is $6.6M

Employee and share based payments expense needs to come down by $1M = $2.6
Admin and other expense $3M . Strip out legal fees when cases in the trust. $.76
Other expenses ($1.2M) went up by $1M - what is that ??

Result - Say $5M approx leaving in some legal for JKL Finance.

EBT - $6.6 less $5M = $1.6M PBT Still have some tax losses.

On this basis leverage comes into play on a fixed cost base as they grow the business.
Above is pure fantasy and optimism on my part and most likely won't happen but in
reality if a finance company bought JKL finance they would be able to run it on $1M before interest,
leaving $7.8M less $2.2 less $1M = $4.6 EBITDA.

Case settlement - cash injection of ???
Value of JKL units in new Trust ???