Wireless broadband company Unwired reiterated that it is in talks with a number of parties regarding future fund raising options.
Chief executive David Spence said the discussions are part of an ongoing process to explore the issue.
"Any additional funding will be used to expand Unwired's network to other Australian capital cities or major centres outside of Sydney," he said.
Mr Spence also said that the Sydney business - Unwired's network currently only services the area - is fully funded.
He said Unwired's current cash balance is more than enough to take the company through to break even.
Unwired's Sydney business continues to experience strong growth with the company announcing 25,000 customers at the end of May, after just nine months of commercial operations.
"Any decision made by the company in relation to fund raising will only be made if it builds value for its current shareholders," it said.
"The market will be immediately informed if and when any fund raising arrangement is entered into."
The company was responding to an article in The Australian Financial Review which said Unwired was trying to raise $110 million with private equity company Allco and Credit Suisse First Boston.
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