Offers $4.00 per share in cash plus CVR

Stock currently trades below the value of its cash and other assets

Believes company's public shell worth at least another $6 million if Board effected a reverse takeover

Stock price down 99% since its IPO only four years ago

Board owns few shares so lacks financial incentive to maximize shareholder value

Directors have been paid $5.6 million or 50% of company's current equity market value

Thramann has overseen destruction of shareholder value at Aclarion and Auddia Inc. with both stocks down 99% since their IPOs

"Independent" Director Deitsch has been sued for violating securities law and has longstanding relationship with Thramann

Believes certain directors have violated federal securities laws and ACON's Code of Business Conduct for, among other things, failing to publicly disclose large personal IRS tax liens