at half a gorilla

There was a time at the 03 AGM when the crowd oohed at the prospect of RDF having 400 lights by the end of FY 04. Share price finally began to get serious and made it to $1.60 on the prediction.This was, I believe, the turning point for RDF and its board.Now we can expect it to reach half a gorilla of lights by end FY 2005. This equates to an average 2 new lights each week with no real sign of abatement.
I asked the question why there had not been even a further escalation in installings given the size of the US market, and realised for the first time that in the states this was all greenfields stuff as legislatures were only slowly giving approvals for the implementation of the program.
RDF is carving out a very respectable niche but the liquidity in the stock is appalling as witnessed by the massive gyrations of the past ten days when the price has slipped from $4.05 to $3.48 and back to $3.82 at to-days close.
Given the LOC created for the company with the American insyitution it makes sense to me for the company to undertake a further capital raising from the existing shareholder base with a view to reducing dependence on short term capital raisings to meet the costs of installations and to hopefully provide a little more liquidity in the terms of trading in this stock.
The pattern of the panic dump has occurred now on three occasions and I have helped myself to a minor increase in my exposure to thos stock but if it is to be taken seriously as an ASX 300 stock with the underlying visibility on the value managers radar screen then liquidity has to be improved.
Access and appeal to the larger institutions will provide a better cap raising base and a stronger RDF going forwards