Ann: Successful $4.5M Capital Raising-Despatch of, page-7

re: Ann: Successful $4.5M Capital Raising-Des... I think there's still a lot of uncertainty about the uptake on Cardia's products. In their presentation they mention their existing association with packaging heavy companies like Nestle, KFC etc. Furthermore, they provided biodegradable bags for the Beijing Olympics. Also, don't forget their distribution agreement with Wipak.

I mean, these are substantial achievements already. So why hasn't it translated into sales growth? Sure there's potential upside in the sustainable packaging market in the long term but in this economic climate it's hard to imagine sustainability to be a driving factor in companies' decisions.

It's great the underwriting went through and Cardia has some capital now to play with. Let's hope they use it wisely given the state of the world.