Thesis still intact in our view. Interested to learn more about this once it (hopefully) closes:
"On June 1, 2023, the Company signed a non-binding term sheet for a potential acquisition of a target company which produces electronic components primarily for the medical industry. We are now conducting due diligence which is expected to last approximately 75 days. The terms set forth in the term sheet contemplate that, if completed, the acquisition would be funded from cash and securities on hand. An initial payment of approximately $3.0 million would be due upon close. Additional earnout payments of up to approximately $450,000 each would be payable over each of the next three years. We can make no guarantees that the transaction will be consummated, or if it is that it will yield the results or benefits desired or anticipated." 10Q 6/30/23
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