Goldmoney FinancialsThe GM balance sheet is strong, and just got a lot stronger with the spin off of Mene. If you factor in the spin-off; I believe tangible capital is now close to the entire market cap of the company.
The recent spike in expenses related to Mene was well worth it from a shareholder value standpoint. I commend management for the healthy development of the balance sheet.
However, the company currently has about $80M sitting in cash, short term investments, and low yielding loans. If we are to ever achieve meaningful returns on capital, these funds need to be more strategically deployed.
I have confidence in management and am sure new initiatives will be announced soon, considering Mene has launched and BlockVault is close. I think a merger / acquisition would go a long way in improving the company’s returns.