Ann: Shareholder Update , page-5

I snapped some up at .15, wouldve thought that the current price of .145 wasnt possible.... wheres the catch???
The Ann says CSE will retain 4mil cash with 110765422 shares in play....so thats .36 cents per share cash backing remaining. or like the other thread said 18cents per share val. so Im still looking at the price thinking wheres the catch, is there a lack of confidence in the board of CSE to turn the remaining assets into something of value before burning the remaining cash??