RE: The end of Reliance! Damian, the connections that were discussed at the time simply have not come into the play yet - whether they will come into play remains to be seen. So far the chatter has not lived up to its promise. From what I can tell and heard, there has been plenty of selling from players who became part of the equation as a result of the Reliance acquisition, but it does not appear as though there has been much buying generated as of yet and that is bothersome.
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As for getting financed, there are ways to finance the operations that do not have to include a market based equity financing and could help put cash in the till, fund operations and create a positive image based on the inclusion of solid partners all at the same time. I can't tell you this will happen, I can only tell you that this is a direction I would take a serious look at, if I was for some reason not happy with the opportunities being generated when looking to the venture capital markets to fund operations. Although not likely an immediate option, low volume production also presents some potential for generating cash flow.
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I am not making excuses, the company has dug a sizeable hole and it is one that will take real work to dig back out of, but it should not be impossible to do.
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Salut,
Leigh McBain