Or are there other restaurants owned by BIHC? I didn't see any link to BIHC and restaurant ownership, can you provide a link?
2. The National Valley bank agreement wasn't $5M in Barrons pocket, they were simply a strategic partner offering financing for Barron clients that needed it. The expected additional business from having a strategic financing partner "may" add up to an additional $5M to Barrons bottom line. Now with the economy, who knows - not saying it didn't open doors for current or potential customer financing, just that we don't know.
3. As for the UNO and Citi Field deals I am sure those are all large contracts, but we don't know the margins. They could be $5M deals resulting in a $500k net profit after expenses.
Not trying to be negative, I think Barron's has awesome forward looking potential and the on going value of Barron's is only increasing as they sign deals, but I just don't think they are making $40M profit OR revenue. I think financially they could be worth upwards of $20M using a realistic multiple (who knows I don;t see any financial's), but if they were pulling in $40M, there would be a $100M+ sale price.