$AEI owns 77% equity interest of Alset International Limited
$AEI also owns 45% equity interest of Alset Capital
Alset International Limited owns 45% equity interest of Alset Capital
See Corporate Structure below

From 10K
https://www.otcmarkets.com/filing/conv_pdf?id...qNc5dYGV3h
page 1
"Alset Capital is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses and is listed on the Nasdaq (Nasdaq: ACAXU, ACAX, ACAXW and ACAXR)."

Details here ($86 Millions)
https://finance.yahoo.com/news/alset-capital-...00223.html

Current Prices
ACAXU $10.08
ACAX $9.93
ACAXW $.14
ACAXR $.12

Compare that with $AEI current price $.42



$AEI CEO Buys price range $.38 to $5.02
all except one above $AEI current price $.42



Book value $3.08 Above $AEI current price $.42 (source: Yahoo Finance)
Book value $2.82 Above $AEI current price $.42 (source: Finviz.com)

Total Assets 184,210M
Net Tangible Assets 148,378M
Yahoo Finance Market Cap 54.27M
Finviz.com Market Cap 53.74M

$AEI undervalued no matter how you look at it.