If it was as simple as selling Ohms they would. I feel the...

If it was as simple as selling Ohms they would. I feel the market either just isn't there or the need is already being met.

I actually think Dave/BUD are doing both the clever and right thing. They still had a big war chest to which they could fund an alternative product/service so they're using it. Albeit they're using it as leverage for both debt and a CR but they're still deploying it. What choice do they have? Die a death of a thousand cuts, slowly eating away at their cash pile trying to get Ohm to sell when it obviously isn't? Or pivot yet again and try something different? I'd take option b...

Whether LIFX is the right business or whether they've paid the right price remains to be seen. But in the circumstances they have to try a different approach.

Taking all that it account, I just don't think it's investment grade. Purely speculative, small sums stuff only whilst you deploy larger sums elsewhere.