Pocket PC, Flash and .NET

I've searched the Internet up and down but it seems like no-one done it before or even care to do it.

The question is simple: Can I embed/use a flash object in a .NET (compact framework) application for a Pocket PC device (platform)?

As far as I can tell, you can view flash (Shockwave flash) on a Pocket PC in one of two ways.

1. Through the Pocket Browser - where you need download Flashlite from Macromedia. But I need to take control over the flash object through a .NET app. Which brings me to the second option - which is exactly what I need, except it's too expensive.

2. The CFCOM component from Odyssey Software provides the functionality to use an "external" COM object (.swf file) inside a .NET application.
(How to on Microsoft help)

The application/project I'm busy with is completely experimental and at US$45 it's not worth it. And the license is per process, so this might become an expensive experiment for a low-cost solution if that is the only solution.

Thus, is there no other way to embed/use/load a .swf file in a .NET (Compact Framework) application? Any advice or help will be more than welcome!