BKTH has concluded its due diligence regarding the proposed acquisition of Kane & McHenry LLC dba CellHelmet and has determined the transaction will not proceed. BKTH’s investor group declined to assume potential liabilities identified during diligence.
During discussions, BKTH supplied product to CellHelmet in good faith, recording approximately $28,000 in gross revenue in 2025, while CellHelmet recorded seven-figure sales. BKTH proposed multiple alternative commercial structures to preserve the relationship, but none were accepted.
As I read this, they were screwed out of $28,000 worth of product.
This ONE statement tells me they are no longer doing business with Cell Helmet:
BKTH proposed multiple alternative commercial structures to preserve the relationship, but none were accepted.
It's getting really hard to see a path forward with a new CEO that has a large conflict of interest here. If the new captain doesn't deliver a meaningful PO in the next 6-8 months, these guys will all be looking for new jobs!