I've been doing some back of the envelope calculations about this company and it looks to be a very good buy.
The market cap is just $18m and this is supported by nearly $10 m in cash and some very good (and hard to get) financial services licensing.
it also has over $4 billion in funds under advice, management etc which will have to generate fees of millions every year.
In recent days have announced $1 bn provides a $500k advice fee. Another $700m has about $1.9 in revenue (@.275% of assets).
They have made losses recently but that looks set to change on the back of these deals already.
Have I missed something or is this stock super cheap?
I've been doing some back of the envelope calculations...
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