Integrated Asset Management Corp ITGQF

RE:RE:$13.5 million in cash

[tkirk62]

Management fees on invested capital have been ~0.75% for the past two years, so if we take your premise that they'll be investing $450 million per year, then that only adds $3.4 million to revenue. Perhaps there's performance fees or other income but you shouldn't count on that, whereas the management fees are pretty safe to expect. I have to agree that your numbers don't make much sense.