Well I am dusting off the word dire. Not quite ready to use that...

Well I am dusting off the word dire. Not quite ready to use that terminology yet, but CFU needs to at least stop being pushed downstream and at least needs to be able to hold position against the current.

Re funding. Read the March funding announcement. They have a guaranteed further US$8.5million that Bergen will take off their hands. Now that is hardly good news as Bergen are just going to dump onto the market and equals high dilution.

Ihave not gone away to quantify it but a large part of that 8.5million, is still available to them. The fact that they have not been usign too heavily is to date a good thing and means they can run teh ship pretty lean knowing that they can go to this for cash at short notice.

So when 75% of this cash has been utilised, if we are still commercially in the same position then it may be time to break out the word dire.

I had been looking to Aug-Sep as a pivotal period as with the new Gennex stack and lower prices we have done almost all we can possibly do to position ourselves in a favourable place. But time is running out for them to get a technology partner on board or for Ideal, Bruns to start ramping up their production into the thousands of units and require Gennex modules.

I am still hopeful that the Board securing the Bergen funding, along with Locke throwing in is that they have a plan and are chasing it down. No guarantee but I dont see Locke throwing in this year on a policy of more of the same ... and a guy that has been as successful as himself would need an achievable near term target for CFU for him to be picking up all the shares that Bergen have issued to the market. On top of his other conversion of options etc.