ECT_Rep - Q&A Session - Letter, page-8

I did not receive any letter, BUT, I do believe that the funding terms mentioned were overly generous, and that similar terms should have been offered to all shareholders.

1) Interest of 15% paid in advance
2) Ability to convert shares at 1.5c or lower
3) The fact that this loan occurred during a trading halt -that if a positive outcome is achieved will send the share price multiples higher. yet the funding deal secured shares at 1.5c
4) Because it is a loan, they now rank ahead of shareholders in the event ECT is placed in administration.

The above deal is extremely skewed towards the Provider of the funds and NOT the company nor other shareholders.

Qestion - What is the Social relationship between ECT Board and Management and the Loan provider?

Question - Can ECT Management provide evidence that they took the needs for Funding to other Loan providers and were offered Market Rates, and that the deal eventually chosen was in the best interest of ALL shareholders?

Question - Is the current ECT financial position in such a risky state that the $800k loan could not have been delayed until AFTER the Trading Halt?

Question - Does ECT have the financial capacity to continue to operate while the Indian negotiations continue, and if so, for how long?