that's nice - bang!, page-77

"ECT has cash to last until July 2013".

Realy SP?

I read that too...but I'm puzzled...where is the cash?

Not in the bank account as can be seen from the yearly financials.

Why would ESI take on a contingency funding with GW for $1 mill in a R&D Tax refund then if they had cash to run the business for another 9 mths?

Why pay GW (was it) $125K up front to have an effective loan of $875K which will then have interest applied to it as well?

Doesn't make financial sense if the Company was flush with cash now would it?

Methinks that ESI are making this statement on the basis of the $6 mill convert loan coming through from Monash to be voted on at the AGM in Nov 11.

If, and only if, that happens will ESI have the cash to run this business for some time...

...did the ann actually give details re the cash and where it was coming from???

Also, have not ECT management ann'ed 3 times now that $4 mill was coming from Monash and have been wrong each time? Did they not ann that the $4 mill will be used to continue development of Coldry DFT and Matmor?

As they say, don't believe everything you read SP!

OW - I believe ECT management will pull out all stops to get the DFT completed by the AGM, even though they have buffered October completion date with a "by year's end" statement...maybe they are learning to underpromise and over deliver ;o)

If they don't have Monash funds by then, all hell will break loose methinks...unless of course DFT done, then maybe Monash will fade into the background on that DFT news.

Cheers K