other options

I wonder whether CFU management have spoken to EFIC. Looking at EFICs website, CFU might be able to get loan guarantee to help it get working capital for expansion. I emphasize might.

I am aware of other firms that have done it and been able to arrange loans that capitalize the interest so that cash is not burnt on interest repayments.

It seems a no brainer, but unfortunately now is not the time to be tapping retail investors for cash - most are sitting losses on all fronts, super, share market and housing prices. They need to be looking for investors with a better risk profile. I for one would not be opposed to them getting a cornerstone investor and giving them 15% of the company. I don't like dillution, but without cash things aren't looking good. And the right cornerstone investor might send a message to the world that CFU has potential and re-rate the shareprice. Groups like Berkshire Hathaway come to mind though they might want the whole thing. I know, I am dreaming.

German utilities might well be another option. Gas and electricity suppliers must have an interest in the potential of CFU.

In my opinion, they would have been better served getting a cornerstone investor and then doing a spp or rights issue. I think punters would have felt a whole lot happier to put money in if they knew that CFU already had substantial funds to sustain it.

Who knows, maybe they tried that and didn't have any luck.