Ann: March 2023 Quarterly Report, page-6

Terrific 4c, $24m revenue run rate and crucially almost FCF B/E.

MM is a significant growing space and MC only above $1m after today's rise.

What a shame this is?

Debt killed it as it burned cash.

Now selling company as cash burn actually stops. Idiots.

IMO recap would be a far better option. Repay debt and turn it into ~$6m MC standalone biz at B/E going on FCF positive, rather than merged company $20m+ MC with CPH losing money.

Merger with CPH done at 4.3c whereas its SP today is 75% lower (makes the recent minor adjustments to FA laughable, idiots).

Most RTOs are just for trading but this actually had a chance.

SHs should vote "NO" on merger (not that it makes a difference given insiders %)