Agree, nearly out of shirts too!
CBD was an Australian solar installation complany that went overseas to expand, got a bond raising off in the UK to install domestic and commercially and entered the USA through CBDE.
CBDE crashed to a tenth its opening price and then went into administration six months later.
It has now reached a deed of arrangement with creditors which has seen them take a bath with a sandpaper loofer while CBDE becomes a backdoor for the listing of BlueNRGY. We still don't know when the combination will reappear on the boards.
Ditto SOO on the ASX (back door to GoGroup, a jump for a company of window cleaners to enter solar but there you go).
Big worry for CFU is the future of gas, as in does it have one? At the residential level?
Against gas we have -
supply insecurity (Russia),
erratic costs (currently low but the coal seam gas and fracked gas wells deplete really quickly so that prices are expected to rocket up sooner than later)
improving wind and solar electricity generation and dropping prices combined with
improving heat pumps and batteries which compete with gas directly.
It is possible that gas will soon start to loose share for space heating and be relegated to peaking power plants in the multi-MW range. CFU is not in the winning space but is heavily into the shrinking residential and small commercial market. CFU may have missed its opportunity.
CFU Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
