FEI fe investments group limited

So assets ( 100% loan receivables?) less deposits = $15.3...

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    So assets ( 100% loan receivables?) less deposits = $15.3 million .
    and market cap is $15.92 million.
    So, the business - with AFSL for upcoming Aussie operations is valued at minus 600K. Yes?
    what am I missing?
 
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