So potentially $15m + $85m + $20m cash at bank = $120m. Less...

So potentially $15m + $85m + $20m cash at bank = $120m.

Less debt of $80m, is $40m in cash at bank, less costs etc so let's say $30m in cash.

I know they own Real Institute (paid $54m) but what other colleges of value do they own?

And before others mention I know they own a class action.

I was hoping they would flog Real Inst and keep Endeavour so that indicates not as much interest so it's probably in my opinion not worth what they paid.

With respect to the class action I assume it is likely to be in part covered by insurance, or is the company going to look at their advisers and put them on notice?

A gamble big time.