Ann: India Project Proceeds to Next Stage, page-378

I'm also heavily invested but it's strange because I'm really happy with how it's progressing. Depends on how you look at it I guess. Some people are always going to be a glass half empty kind of people no matter the situation. Maybe some cultural research wouldn't go astray for some. India is very hard to break into not only for ECT but any foreign company. Things don't work there like they do here or other developed countries and things take time to establish. Some keep going on about 5 years this 5 years that and how management have squandered so much money. That's just what some deals take and cost in India. Once there is a partnership created it's very hard to break bit this takes time and trust. I think during this time we have forged a very close relationship and one that isn't easy to create. We are 5 years ahead of any other company starting and trying to get a piece of the Indian boom. We are on the ground level and the only way India will grow will be up. Another thing I hear is how the Indians are so shrewd at negotiations and they can school anyone and how we have been bent over. Remember once we sign guess who will be in on the negotiations with us when the rest of the world wants our tech negotiating our 49%. Think about that for a minute. Once we get over this hump (financial close) it will all turn back into our favour with the Indians fighting for us because it's in their best interest. We are at the point where things are going to turn for us and turn fast in my opinion.