Trading just at the right priceso with 119m share outstanding, at 23 cents its value is about 27m. This is exactly equal to what their book cost is of their investments of 27m. The price/share if we were to take the fair value of their investment would about 37 cents...43m of investment at fair value divided by 119m... trading at 37 cents would mean that the fair values are correct and they were all realized...which is not correct I also agree that this does not include the future potential of capital gains they can make...so if you believe QCA is superior and can generate future gains..this is the right time to invest and share price is trading near intrinsic value.