MOU2 and MOU3, page-87

What does it really matter Mou 2,3,4,5,6,7,8,9 ,  it still doesn't justify the current 95m market cap ( shares plus options well in the money , not including the 500m performance shares )

250m performance shares are issued if IAM achieves aggravated  net profit after tax of $1m by jun2019 and another 250m performance shares if  IAM achieves aggravated net profit after tax of $4m by jun2019.

I think they will achieve aggravated net profit after tax of $1m by jun2019 but not sure about achieving aggravated net profit after tax of $4m by jun2019 .  So if another 250m shares get issued in say 2018/19 it puts the market cap up to $111m at 6.4c. I think current fair value for IAM should be somewhere around $30m to $40m until we see revenue and advice firm growth.

Look at one of their competitors , VBP Back Office Solutions who are expanding fast , they now have 55 advice firms as clients , up 83% from a year ago. Will IAM offer a better deal and service than VBP Back Office Solutions.

See VBP Year in Review 2016 video at https://www.facebook.com/vbpbackofficesolutions