Canaccord commentsSpackman Equities Group* (SQG : TSX-V : $0.06), Net Change: 0.02, % Change: 37.50%, Volume: 3,714,400 SEE BELOW FOR MASSIVE HOLDING COMPANY DISCOUNTS. Micro-cap investment company, Spackman Equities Group, reported year-end financial results for 2016 that impressed some investors. The company, which has a market cap just over $6M, said that it earned investment income of $5.6M in 2016, compared to a loss of $9.2M the year before. Net income and comprehensive income for the year was $4,472,000 or $0.04 per share compared with a net loss and comprehensive loss of $9,198,000 or $0.06 per share for fiscal 2015. The investment income and net income for 2016 reflected the increase in value of the company's holdings in Spackman Entertainment Group (SEGL), which is listed on the Catalist of the Singapore Exchange. As of December 31, 2016, SEGL had $27.6M, or $0.19 per share in cash, marketable securities and investment in shares of a public company. Spackman owns 32.85% of SEGL, and based on the most recent closing price of SEGL's shares of SGD $0.146, the market value of Spackman’s stake in SEGL is SGD $22.2M (C$19.4M), or $0.128 per SEGL share (talk about a sizeable holding company discount). SEGL’s main line of business is film and entertainment Korea.