Aside from underperforming lately as an investment manager, CAM has other challenges. After running as high as $1.93 soon after floating, CAM shares are down to $1.34 and it is burning through cash. The company's latest quarterly filing showed cash of $956,000 at the end of December and estimated cash outflows of $2.18 million for this quarter. In the December quarter, it has receipts from customers of $759,000. Staff costs alone in the same period were $782,000. The current share price seems to consist primarily of an amazing amount of goodwill.
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Its going to be embarrassing for CGA and its broker if when they go cap in hand to the market in the next few weeks to keep the lights on
CGA Price at posting:
$1.35 Sentiment: None Disclosure: Not Held
