is the $6m cap raising real?, page-17

Good post Harry

The sentence in the paragraph prior says-

"Accordingly, the ECT Board remains optimistic that Monash
can fulfil its obligations”

"accordingly" being the key word, because of Monash's given reasons in the previous paragraph -

Monash Captial's Neil Youren states " However, we reiterate our commitment to ECT and our written offer of 18 July 2012 to subscribe for up to 300 million Fully Paid Ordinary Shares (ESI) at $0.02 and 300 million Listed Options (ESIO)”

So the board is hanging in there 'accordingly' as Monash Capital keep telling us they are keen.......however the company must to look at alternative funding on the off chance we have correspondence from Monash Captial sayign they are out - with out funding alternative at hand the DFT would be delayed....hence the DFT will not be compromised by Monash Funding falling over as long as we can secure an alternative.-
"The recently announced ‘Fast Financing’ allows the Company to
meet all of its short-term obligations and to explore a number of funding alternatives”.

information from
Shareholder Update: Capital Raising
Thursday, 26 July 2012: Environmental Clean Technologies Limited (ASX: ESI) (ECT or
Company) provides the following update on capital raising activities.

If a funding alternative is needed, lets hope its a good one.......but in the mean while Monash Capital "accordingly" is still the focus from there dialogue with us reiterating there commitment. Imo the alternative funding is a contingency plan so at short notice we can have cash flow to continue DFT.

all imo dyor