Well said.
It would be interesting to see what the staff did on a day to day.
They literally have to send one invoice a quarter. Absolutely no idea what they do the rest of the time.
In terms of looking for further royalties, what qualifies this MD to spot a quality investment, as far as I know he's not a well respected investor in this space and rather has shown himself to be a wasteful allocator of capital.
So would rather they fire everyone, employ an accountant for 3 days/quarter, cancel the debt facility that is just costing us line fees and let this be a pure royalty.
Business Development, page-2
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