Frankly, I would be buying more shares right now. The market conditions continue to favour the company. The play for 2015-2016 is still looking strong and whilst the company is struggling with funding I think they have enough momentum to struggle through it (in one shape or form)
What is the unknown for me is right or wrong this has all transpired within the first 6 months of new leadership. If Dow had come to the market then as a long term holder you knew his history and his efforts.
With Locke and Kennett you have people who are experienced, in the game for a good many years and likely to be doing what is in the best interest of the company.
BUT, the latest funding is either desperate or a stop gap until the grass greens up a little later in the year. I fear its a combination of all they can raise, hopefully enough to get them through to some better sales and if not they feel over a long enough time scale that mCHP will take off in Europe post 2016 and if CFU cant be there to enjoy the fruits then they want the tech in one shape or form to be around. Thats a risk and one I never thought woudl be a concern of CFU as I had envisaged that we woudl be happily moving 1,000 units this year and I cant see it happening. I thought 1.000units was a quite modest target for CFU in 2013 but with no Sanevo, and no other concrete orders...just announcements of intent to sell and partner etc....
If we cant do enough to keep the doors open for late 2015-2016 then an amazing product could give way to other players like the Baxi-Valiants out there.
I am not even confident they know how we are going to service the interest payments.
CFU Price at posting:
4.3¢ Sentiment: None Disclosure: Held
