Board game publisher CMON has submitted a new Hong Kong stock exchange filing, stating its planned purchase of shares in another company has been cancelled. “The Board wishes to announce that as the conditions precedent to completion under the Agreement have not been fulfilled, the Company has decided not to proceed with the Acquisition”, it says.
CMON, formerly one of tabletop’s most successful publishers, reported losses of $19.9 million in 2025, after losing $3 million in 2024. The company has pursued many methods of alle
Staff have been laid off, IP sold, and production of new games halted while the CMON tries to fulfill its eight outstanding crowdfunded games. The pages for each show over 45,000 people are still waiting for games from CMON.
CMON’s plans to buy shares in Blissful Link Investments Limited, an NFT videogame company based in the British Virgin Islands, was one of its more controversial decisions – NFTs being a thoroughly burst bubble that were unpopular with tabletop gamers even when they seemed profitable.
Blissful Link is best known for Capverse, a play-to-earn blockchain game. It also made a recorded loss of $197,000 in 2024 and held liabilities worth $889,000.
However, CMON said in anApril 2026 filing, “the Company believes that in order to continue to be relevant in the games industry and to expand the Group’s revenue stream, the Group would need to conduct digital transitioning and venture into video game development and Web3 projects”. The acquisition of 2.2% of shares were presented as “a new revenue stream” for CMON.
All CMON’s new filing tells us is that the conditions of the original agreement have not been met. Four were originally set out: a due diligence investigation by CMON into Blissful Link’s affairs, approval of the transaction given by CMON’s board of directors, approval given by Blissful Link’s board of directors, and “the warranties in the Agreement remaining true and accurate and not misleading at completion.”
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