They had $8.6m at the end of last qtr, but the cash decrease last qtr was $5m. With the expected staff costs savings kicking in, as well as a planned 30 units going to EOn and what I was hoping saw improving margins, I was hoping cash burn could have been reduced to $3m this qtr (leaving them $5m).
The size, nature and type of investor will say a lot about where CFU are at. I gather the large furnace is part of the plans for this raising.
The shareprice has been solid on a couple of down days, in particular today after a funding announcement, so that suggests a fair bit of the selling pressure previously experienced has disappeared (run to 9 cents was good for something).
It may be worth waiting for the funding announcement, along with the quarterly, but strikes me that CFU might be turning the corner with some long termers taking positions.
funding news, page-13
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