"co-incidences"..?, page-122

F

I assume that Q is directed at me - yes?

We all see value differently.

Mr Frodo's mate SW says that ESI at 2c is cheap and doesn't understand why it's not being snapped up at these prices.

I work more on MC's - I think that ESI undiluted MC of $30 mill is expensive (right now).

ESI is trying to commercialise its patented BCE tech and has been trying to do so for many, many years and millions and millions of dollars spent.

It has still not completed a full DFT, has insufficient funds right now to do extensive development and is hoping/waiting on a funding deal for $4 million with a newly formed entity backed by a global $300 mill Co. that has little to no web presence and an answering machine at it's head office during normal business hours!

It's Matmor tech IP is owned by another entity, it holds very little in tangible assets, has a MOU with GEAC which will be owned by AGL with no current update status from AGL on that front and has not proven it's tech to commercial level.

So, for mine, that doesn't equate to $30 million MC - no where near it really.

If we see an AGL MOU updated, funding finalised to complete DFT and more to build the demo plant with LY waste power - then the current MC of $30 million may be fair value.

Once Coldry proven up and agreements in place for offtake/buyers of the BCE and what percentage ESI gets from that - then $50+ mill MC or more a big possibility.

Worldwide uptake of Coldry and some decent royalties coming back to ESI - $100+ million or more.

Matmor - well, who knows - $100 mill to $1 bill MC?

So right now...based on purely a commercially unproven BCE tech with a 2 year old MOU with a company now bought out and no other "value adding assets" and little reserve cash...$10 mill MC may be about right.

Having said that, I have some learned colleagues who basically say that any stock not producing profit and dividends is worth zero.

Hope you find that interesting F.

Cheers K