Before the trading halt and voluntary suspensions I would of...

Before the trading halt and voluntary suspensions I would of said yes but now considering the aforementioned plus the following:

1. Dividend policy has always been at 50% of profits, they haven't communicated any change in that and we expect profits to be down for FY19 so on that basis I anticipate lower dividends this year. I think this will cause SP to drop.

2. Quoting from the FY19H1 Investor briefing transcript Slide 16 - "49% of ourliquidations came from accounts less than one year old", and "We do caution, in the event that we ramp our investment in future periods,you may see that year one contribution increase again" - This is better than FY18 rate of 56% but should be considered in terms of what it means for the long term.

3. Staff costs seem to be getting out of control. The corporate side of the business seems very top heavy - how many managers does a small cap need?

4. The levels of debt are rather high - I understand the American way of high leverage but the big jump in interest payments from FY17 to FY18 is something to note.

5. The company has produced a lot of gloss since going public and pursing the FVTPL approach and finally conceding rings alarm bells.

I could go on but like I said, before the trading halt and voluntary suspensions I would of said yes this is a great buy but now after all the assurances and now in the 11th hour coming out with likely material difference I would say no.