Ann: Shareholder Update , page-112

SP3, you can’t simply blame Monash for the events that have transpired to date. The ECT board should have been more active in looking for alternatives. The fact is Monash was the only serious funder in the picture and has been able to call the shots, hence never ending delays. There should have been many more investors knocking on the door if this technology will be the future for Victoria and possibly for other international partners.

In my opinion, a "DREAM TEAM" should have achieved much more than the current team based on its announcements to the market over the past 13 months.

Characteristics of a DREAM TEAM

Have released Coldry DFT in snippets (via announcement or video) to all (without divulging commercially sensitive information or in-house secrets) attracting funders from all parts of the world. Directors need to market their technology to generate interest from external parties.
Have secured a CSI to progress its Coldry technology. This would enable the construction of the CDP (without relying on government funding initiatives).
Is able to secure ALDP funding to maximise its funding pool and minimise dilution for existing shareholders, whilst developing its technology.
Able to attract numerous CSI’s to advance their technology.
Releases regular announcements that attract investor interest and result in an appreciating share price.
Directors back up their words (promises) with actions, enhancing their credibility.
Able to be granted a pay rise by its shareholders at the last AGM.

Characteristics of a STRUGGLING TEAM living on a thread

Are able to protect the interests of its shareholders (the job of a director) and only make limited progress.
Only able to secure dilutive funding arrangements to keep the company afloat, resulting in share price depreciation.
Company needs to constantly reshuffle its board of directors to achieve its strategy.
Constantly delivers empty promises to generate shareholder interest and always reiterates the same unresolved issues.
Shareholders are not granting its directors a pay rise.