I put this forward for your consideration. There could well be a trend developing that is the reasoning behind why some smaller companies are hiving off their businesses and in one way or another offering their shareholders 'special dividends' which, on the surface, do sound too good be true.
This thought came to me when I was listening how Anglo American (AAUK) which, when it first started out, was purely in 'gold mining' but later branched out into other areas of metals, coal. and even paper and packaging, is now hiving/selling off some of its units by varying methods, and will be returning shareholder value in various forms. You can read more at various locations including Market Watch and Kitco.
The thought is this. That perhaps some of the companies do not want to be involved in the day to day running (and anxieties of running) these businesses, but are hoping, by retaining a financial interest, they can rake off a profit from any of these divested (and often diverse) companies that become profitable. It is a bit like a home builder who retains the 'freehold' and sells leasehold. He has no worries about the property, and retains a leasehold 'fee' each year. Not the same, but has the similarity of owning, without agro.
Lets take GWGO (West Gold) They have already rewarded their share holders by sending them four or five different pink sheet style gold mines shares (25% of the shares they already held in GWGO) which were on their books, and the remaining one will be dispersed next month. The shareholders will also still have their shares in GWGO which will change its name as it moves into another sector (but retains an interest in the divested companies) - with which it will probably, eventually, do the same.
IDWD may well be just going down the same road. Some people just can't start up their own companies but will find the cash, and put in the work to develop one they buy that has some of the foundations in so they don't have to start from scratch. They don't mind it not being too developed, or profitable, they feel they can turn it around.
There are many young people in the UK going into property and buying themselves a 'run down' they can improve themselves. Often they will end up having poured out more money to get it up and liveable than what a new place would have cost them to build.
What I am saying is that there appears to be a market for kicking something off that you can sell, and if necessary, in which you can retain a financial interest.
I have something more to add to this, but will wait until later.
News 
Market Data 
Discover 
