FRM do seem to be relying on property sales to keep them going over the last two years. They seemed to hide the latest property sale to give shareholders the impression that their business was profitable. note 3 of the financial report shows that they have made profits of $1.53m and $0.76m on property sales in the last two years and their results would have been miserable without them.
I am not close enough to the company to know what properties they own.
I really don't think Lendich warrants a salary of $300,000 for his performance.
Thanks for the smallcap suggestions. I see you like similar stocks to me. I will do some homework on them.
GPASAS
FRM Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
