I am not a fan of fasted state cardio, and this is not to argue, but to state my stand and why. I would suggest some protein pre cardio. Then wait 1/2 hr. post cardio and have your normally scheduled meal, a low glycemic high fiber with fats to keep any fat burning you achieved from your cardio session going.
Now, here is my stance on this. It is based on the science of fat burning, not something I just say.
For fats to be converted to citric acid, oxaloacetate must be available. Without oxaloacetate, citric acid cannot be formed and acetyl-CoA cannot be further processed.
Oxaloacetate can be produced from the breakdown of certain amino acids. (read amino acids) However a person on a high fat/low carbohydrate/low protein/starvation diet, will need to use the oxaloacetate for gluconeogenesis.
Fatty acid breakdown however must still occur for ATP generation and acetyl-CoA will need to be processed through an alternative pathway. This pathway leads to the formation of ketone bodies.
Oxidation of fatty acids requires certain substrates (TCA) intermediates.
If those are unavailable, amino acids will be oxidized to provide them.
The amino acids will need to be derived from muscle tissue, leading to muscle wastage.