I don't think spinning off Certain ID would be a good move. I also don't see KKL's current cash flow position as a major issue - for now. Sure eventually the money needs to start coming in however the directors will continue to cash flow KKL under the current model. Nevertheless things may change should they sell direct. But still overheads should be minimal given the technology is already developed and to market.
I see diversification and increased opportunities with the current setup. Certain ID is potentially very big. No selling down of this asset should be considered until the real value is recognised. Meanwhile, as some have commented here, KKL has to be heading in the right direction if the directors are continuing to put their money where their mouth is. They have their foot in a few doors.
Separating their activities will not resolve their current issues - a change in strategy is best. And hopefully this is what their new CEO will bring.
JMHO and PDYOR.
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