Crown Electrokinetics CEO issues letter to shareholders

Crown Electrokinetics (CRKN) provided a letter to shareholders from its CEO and Chairman, Doug Croxall. “Earlier this month, we were disappointed to be delisted from the Nasdaq despite taking diligent and strategic steps to meet the exchange’s listing requirements. While we will discuss our listing plans in more detail later, my primary focus today is on what truly matters – our business, our progress, and the opportunities that lie ahead…. Our long-term objective is to build a sustainable, profitable business, and we are taking deliberate steps to achieve this. The construction industry operates on long lead times, and securing new contracts – particularly large-scale infrastructure projects – takes time. While we are currently in the running for multiple opportunities, the nature of the industry means we will experience a ramp-up phase reflected in our revenue growth. That said, the market opportunity across all our business lines is stronger than ever. Despite the recent delisting, Crown remains in a strong financial position, with over $20 million in cash and no debt…. We firmly believe in the strength of our business model and the long-term value we are creating. While we continue executing our strategy, our priority remains achieving sustained profitability to position Crown for a successful uplisting… We believe Crown today is a fundamentally stronger company than ever before.”