RE:RE:RE:RE:RE:Is the bottom about to fall out.Agree that investors will start to lose patience in the absence of any developments. But I don't see it trading (much) below cash levels.
It's a not direct comparison, but HOH has perhaps similar themes to another company with quite some history: Questor Technology.
For the sake of comparison, Questor has (1) non-trivial cash balance (but decreasing) (2) financials which I would generously describe as "hot garbage" with no direct line of sight to improvement (3) management largely disliked by retail shareholders, but (4) possiblities to win large orders which can rapidly change the outlook. That still trades at about 1.4 times working capital.
I think HOH is in better shape - although I know the companies service different (but related) areas.