re: Ann: Fundraising for working capital and ...
I had a lot of faith in CFU. The Bluegen is an incredible product I would love to have one.. But any business that burns up over $8 Mil in one quarter with receipts of only 609K for a quarter (ie 30June2012 report).,is in serious trouble. By the next quarter at this rate of burn the balance of funds will be a big 0. Management will have to cut cost drastically to survive or look to be taken over. imo. I fail to see how this capital raising will be successful,(SP well under the 6cents), unless they scrap it in its present form and offer a better deal to shareholders. Wake up CFU directors and management, it is our hard earned money you are asking us to put up. Give us something better in return. (Maybe a Bluegen at cost or a good discount.)
CFU Price at posting:
5.4¢ Sentiment: None Disclosure: Held
