Without having detailed information on each of those companies...

Without having detailed information on each of those companies one can not make a valuation. You keep comparing IWG to these companies. Why not just try to justify the value IWG based on what you know if IWG?
Any investor is going to want to do,their due diligence in them. This is probably why their last CR was lower and they had to resort to borrowing $1m.

Keep making comparisons if you like. It just doesn't mean very much at the end of the day.