How do you get 20 million for a 90 million dollar direct investment before management expenses and think this is a good deal?

CG I'm as disapointed as you are but perhaps it has to do with the fact our valuation and the whole valuation of the sector has dropped? Given our ''paper value'' dropped 90% it is perhaps safe to say investing 90M in a company now valued at less than 90M cannot be worth multiples of 90M anymore?