CMON has secured US$ 19 million in new capital, bolstering the publisher’s cash position as it seeks to reverse years of losses and ease financial pressure on its operations. In early August, the company had just US$ 368 thousand in cash and bank balances.The investment was raised through a share offering designed to generate up to HK$ 150.5 million, equivalent to approximately US$ 19 million. Existing shareholders purchased just 7.76% of the new shares by the August deadline, but placing agent Yuen Meta managed to sell all of the remaining shares to other investors.The cash injection comes after nearly US$ 23 million in losses accumulated in 2024 and 2025. CMON also reported that its core business is facing a “prolonged structural downturn” and continues to spend more cash than it generates, despite a restructuring that cut its workforce in half, led to the sale of key intellectual properties and halted new crowdfunding campaigns.The latest results show a reduction in losses. In the first half of the year, the company reported a loss of just over US$ 2 million, compared with nearly US$ 7 million in the same period of 2025. Even so, at the end of June, current liabilities exceeded current assets by US$ 7.34 million.A significant portion of those liabilities is tied to eight games funded through campaigns that raised US$ 14 million from backers and have yet to be delivered. They include DC Super Heroes United, which raised more than US$ 4.4 million, and DCeased, which surpassed US$ 2.5 million.CMON plans to use 40% of the new capital to fund operations over the next 12 months, including salaries, royalties, transportation, distribution, professional fees and administrative expenses. The company has not yet disclosed how much will be allocated specifically to delivering the delayed projects or whether the funds will be enough to complete all eight campaigns.
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