Is the higher operating expense in July due to a performance fee in relation to the Instantscripts sale?
If I've read this correctly then you have 108m in cash (from which they have a performance fee as well as tax to pay on instantscripts), and even if that comes to ~10-15m, they still have a lot of cash to deploy.
I'm sure they are looking for investments, but surely that cash is being an anchor on returns (well perhaps less so now with the higher interest rates, but people did not invest in this to get 3-4% interest)....have they communicated anything about the cash and investments recently?
BTI Price at posting:
$1.26 Sentiment: Hold Disclosure: Held
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