oversold, page-10

Red

Right you are, but when the rights issue documents themselves raise the spectator of doubts about the business' ability to remain a going concern in the event of failure of the RI, holders must clearly worry that cfu will run out of cash! Management and the board clearly see it as a possibility. Otherwise they wouldn't have made the statement.

And there in lies the problem, you might be confident but if sufficient investors don't take up the issue, those that did are taking a big risk.

I disagree, secure the cornerstone investor with knowledge that a RI will take place. Factor that in so they take up their rights don't get burnt by dilution.

The benefit is punters see the operation has support and cash, the risk is less! So they have incentive to participate! The fact that it didn't happen this way suggests to me that there is no white knight in the wings as you believe.

The fact that cfu has been sold down over recent months suggests to me that they were out looking for money and didn't get it! Pure speculation on my part! I don't know what's been going on.