On February 12, CMON announced a successful share sale to raise funds for the ailing board game publisher. According to a filing on the Hong Kong stock exchange, the investment of six new shareholders raised $1.2 million (HK$9.4m), and CMON as a business is now valued at $7.525 million (HK$58.824m) total.
CMON saw losses of $7 million in 2025 and $3 million in 2024. It has taken several steps to mitigate these losses in recent years, from layoffs to slowing production to selling the IP of its best board games. The publisher had also tried to raise funds through share sales in 2025, but these attempts (which would have valued the company at around $5 million) failed.
The stock exchange filing says that most of the capital raised will be used for game development. $300,600 (HK$2.35m) will go towards marketing and events, while $150,300 (HK$1.175m) aims to cover "normal operation of its sales of board games, miniature war games, and other hobby product business".
CMON currently has eight undelivered Kickstarter board games, plus five undelivered pre-order titles. However, in a statement from January 20, it said "we are committed to delivering your games no matter what, even if it requires alternative approaches to get there." This may apparently involve further IP sales.
More detail about CMON's financial situation will be revealed at the end of the month when its annual results are submitted to the stock exchange. That is, as long as they don't miss the deadline like last time.
Want to talk more about tabletop games? Join the conversation in the Wargamer Discord.