There are other options available here: - on market takeover by well capitalized company seeking access to technology and demonstration plant equipment for deployment in Asia. - recapitalization with new majority owner - raising money from existing shareholders for short- to medium-term capital needs.
Of course, if Len store up a hornets net by pointing out the problems with CBM, he might start getting some more traction in his efforts to keep the doors open.
For someone who invests in cash poor O&G companies, things don't seems as gloomy as some here suggest (i.e. bankruptcy is not a couple of week aways).
CXY Price at posting:
1.6¢ Sentiment: None Disclosure: Held