I don't see why Rubicon should have any overheads. Mr Moriarty should be able to run the outfit from his laptop on the back porch, copying and pasteing the interim and annual report text and diagrams year by year from the previous ones.
What a sad state of a company at the moment. Sitting on stakes in ArborGen and Tenon and doing absolutely nothing else to increase value for shareholders.
The only dim light on the horizon is the possible ArborGen IPO, but with absolutely no information on possible timing, any real reason now for the delay, and an exchange rate which they obviously have no cover for, it is making the Board and Management appear to be a bunch of lethargic and incompetent wishful thinkers.