overhang has gone 7m trade, page-3

Enerji is in an enviable position given its current cash position of approximately $5.2M having recently raised just over $2.5M at $0.20. This is sufficient for the Company to complete the Henderson project, implement additional Opcon Powerboxes and continue operations. In light of this fact, the Company doesnt need to raise any more money at this point in time. Consequently, it has decided to put on hold its plans to raise new capital from US Green Funds given the volatility in the Companys share price and to avoid unnecessary dilution of existing shareholders. Enerji has the luxury of being able to wait for its share price to achieve higher levels before raising more capital. The Company believes that the successful implementation of the first Opcon Powerbox at Henderson and the results of its current business development activities resulting in new sales, will, in all likelihood, help achieve this.

I guess this is the direction things are heading in. Hopefully imminently.

Obviously people saw value in ERJ at 20c. Now its at 5c.

If its true that the overhang has been removed then we should see it move back up to those levels.

Having the ex environmental minister of WA on the board wont hurt either.

Does anyone else have any thoughts on where this might be heading after the volume spike?