RE: Advantex Clarification: May be guaranteed $1 million/year (gross margin), but there still are the expenses to administer the Aeroplan accounts. The cost of sales Futura lists on its income statement only include the 3 cents/mile paid back to Aeroplan.
And then there's the question if whether there are any buyers for the assets. They too would have to finance operations possibly by debt. And then there is the low price stigma haunting Aeroplan resellers, even if near profitability. A lot of this had to do with the large debt loads they carry. All investors know that eventually, both Futura and Advantex will have to pay the piper.This dark cloud prevents the stock price from going higher.