The new business model is rolling out well and the successful...

The new business model is rolling out well and the successful cap raising will now help support the next finance facility. The fleet is growing and as of this morning is now 261 on the Carly site which is significantly higher than what we have seen all year.

Utilisation rates are excellent and we are starting to see the supply side of the equation work out, supply being the issue we have always had and not been able to deal with.

The June facility of $1.5m resulted in 65 or so cars and we now or will soon have around 120 cars in the fleet owned or financed which provide a much higher percentage return.

From the Chairmans address:

"The next critical milestone will be the establishment of further asset funding facilities and then the deployment of those funds to expand the fleet. The Carly team, led by Chris Noone, CEO and Executive Director and Mike Mobilia, Chief Financial Officer are making great progress on this front and we expect to update shareholders shortly in this area."

The fleet growing, margins improving and the sniff of a further and hopefully larger facility on the wind, cash in the bank and the shares at all time lows. A MC of $4m has a lot of room to move on the news of a supply facility and kicked by a likely record quarter of revenue.

I like the new options as a cheap way to have decent exposure to the story. Time will tell wether that is another investment fumble of mine in CL8 but the business is certainly looking as good as it has ever looked.