Ann: March 2023 Quarterly Report, page-8

It's currently non-binding so it's all up for grabs. SHs vote on it.

Though obviously the debt (mostly to CPH) has to be repaid.

But I reckon it's appealing for a recap (even at the current 1c).

Compare HHI to AGH which is a similar distributor in similar markets.

AGH has done $23m revenue for the first 9 months & at a $20m MC (and consistently lost >$1m per quarter)

HHI has done $16m for 9 months and just hitting B/E, so a ~$6m MC at recap has decent upside potential to get it over the line.

Good PA today, wonder if the market will start pricing a deal failure in and the upside to come.....?