I was at the meeting today along with abt 20/25 others and the Board stood up pretty well under some heavy questioning. I came away with the view that it is a straight out gamble as to whether they will survive, if funds raised now run out by end 2010 and they have to look for more $ and cents OR Euros. They claim they will be cash-flo positive by June 2010 and still claim they are way ahead of any competitor in the same business. They interestingly claim demand is not and will not be a problem.The problem is supply, hence the German factory with the ability to supply in large quantity with much lower labour requirements than if produced in Oz.
CFU Price at posting:
7.4¢ Sentiment: Hold Disclosure: Held