Ann: Technology Acquisition Update & Voluntary Suspension Exit, page-202

It is understandable that shareholder are pffff because the India deal had been presented as almost a done deal since day 1.

At best ECT management and board have been naive and failed to mitigate risk with so much focus on India for so long.

We basically gave NMDC a free option over our technology for the last 3 years and since the tech will at some point be surpassed shareholders are increasingly frustrated.

The WTE acquisition sounds to have great potential, but the tech has already seen one company go into liquidation for whatever reason. I think the concern is that management have a new play thing to keep them busy for who knows how long when all shareholder really want is for the company to have a stable future and positive cash flow so all the technologies they have are not lost and never developed.

I think most shareholders want to see runs on the board and we as a company are not constantly sat waiting for others to decide our fate.