$310 Million US in InvestmentsThat is excluding current cash from the PLM sales.
These investments, in particular Kognitiv, are not making us any money but declining in value to the value of $15 million US in Q1.
This negative performance by the Mittlrman boys is consistent with both the short term and long term ( 10 years ) negative performance of the Funds managemed by the same chaps.
In my view, what little value ( I see none ) is left in Kognitive will be /should/be written down to zero in the upcoming Q2 in August .
So, what we should do is quickly monetize these Investments and give half the cash to common shareholders as a tax efficient dividend and the remaining 50 % or so consolidated with the PLM cash and invested in solid free cash flowing companies with a wide moat.
To do so with comfort and confidence that these funds are wisely invested, we need to remove the Mittlemans and those who received 25 % of more dissenting votes in the 2022 AGM from our BOD.
Essentially, a significant reduction in the BOD, removing all those involved in managing our remaining Investment Portfolio which becomes redundant with the monetization of that portfolio.
In essence, we become a hybrid dividend stock, combining growth and dividends in a debt free company.
Lean and mean and, using our tax loss pools, throwing off plenty of free cash flow to sustain dividends and modest funds for bolt on inorganic growth.
All of us need to send this message to management.
We hold the larger balance of shares in any vote..