Melrose Ventures Group Urges Transparency from Hank Management

Melrose Ventures Group has expressed serious concerns over Hank Management's recent decision to halt further communications with them. This decision adds to a pattern of non-transparency observed over the past seven years. Multiple efforts by Melrose Ventures to initiate dialogue, including a request for a shareholder meeting on October 21, 2024, have been ignored.

Key issues have surfaced, primarily concerning Hank's proposed acquisition of a potentially non-viable company and dilutive financial moves. The acquisition would lead to Hank giving up a 49% stake for assuming $1 million of debt, potentially undermining shareholder value. Additionally, a proposed reduction in convertible debt conversion price could dilute shares by 50 million.

Melrose Ventures is advocating for management changes, suggesting that the original founders could better lead Hank. A tender offer by Melrose Ventures presents an alternative at 9 cents per share, compared to Hank's management's offer of 5 cents, amid an 80% potential dilution.