Real ValueI have been watching this potential real estate play for awhile now and after looking at the financials (briefly), there is no way this company is worth 54 million as a market cap based on the anemically low volumes.
Furthermore, minus cash on hand for the real estate side from investors (20+ million last time I checked - not CIBT money), then we have a 34 million cap based on just assets they manage (not own)+ 19-20 schools (which most likely many of them are kind of a loss leader - some domestic and definitely the ESL side)
Furthermore, I could be wrong, but I noticed that executive compensation is not laid out (including increases year to year). Investors should know what all the executives from CEO to CFO are making in the divisions based on quite frankly mediocre performance. If they spin off the real estate side and become a REIT, then I am thinking the educational side will become a private enterprise or possibly sold off for at par value/loss or the investors only want bits and pieces and the other areas shutdown.