EWEB set up a wholly-owned real estate subsidiary and is doling out the cash hoard in $1M chunks to the sub. According to the press release, the loans are to be used to invest in real estate opportunities that are expected to yield at least 15% per annum and last no longer than three years. In other words, EWEB wants to become a real estate flipper. In Hungary.
If that's the best use they can find for their cash, I don't want to be a shareholder. I'll look for an exit, take my lumps and move on.
EWEB 1-yr chart:
DISCLOSURE: I am long EWEB. Not a recommendation to buy or sell any security.