Former New Jersey Gov. Chris Christie’s presidential campaign recently made a pitch to his donors, touting his ability to remain in the race for the Republican presidential primary and positioning him as the only GOP nominee taking front-runner Donald Trump head on.

The 38-page donor presentation presented to the American Opportunity Alliance titled, “Christie, Because The Truth Matters,” calls Christie “the best steward of donors’ contributions” due to a “lean, responsible operation” that “keeps the burn rate low.”

Christie has $3.9 million cash on hand, according to the memo, below every other non-Trump opponent save for Vivek Ramaswamy’s $3.8 million. However, Christie is spending just $15,800 daily, far below every other Tier 2 candidate. Mike Pence has since dropped out of the race since the presentation was put together.