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Hi MM

Despite my occasional rants, like you i can see that ERJ has a good future in a growing marketplace. Being in the top 20 i spose that means you are sitting on a bigger loss than i am ? :)

Current MC is $11m and we now have 1b odd shares on issue. There have been several stumbles along the way...not all of them can be traced to the current board and management who (to be fair) inherited a bit of a mess from the original promotors.

Over the last 6 months the company has continually raised money at ever decreasing prices. They are now engaging someone to source debt funding. I recognise the difficulties of raising funds not only in the current economic/finance climate but also as a Co that is yet to attain cashflow. However, the need to hire a consultant only demonstrates to me (and indeed reinforces my belief) that this board needs someone with stronger capital markets experience and fundraising ability and nouse.
I am not opposed to the current board i just think they need to take a good hard look at their composition and wonder if there is any deadwood that could be replaced with someone with the above abilities. A critical analysis of their strengths and weakness' if you know what i mean.

I dont think they have handled this side of things well.

I hope that the current installation will provide valuable lessons that will be heeded so as to ensure the seamless nature of future installs.

I smell a bargain at these levels...bring it on sellers, let's get it over and done with