be very careful, page-48

Carl,

Not the outcome we wanted obviously.

The two directors responsible for the capital raising need to be removed - one of them is up for re-election....vote him out. Its plain wrong that they are raising at these levels without a Tincom update.

A couple of points that stand out to me:

* "The proposed arrangements with La Jolla are expected to result in a total capital raising over a six to nine month period of US$2,500,000 (exclusive of costs and fees payable to La Jolla and the Companys corporate advisers).

What do we need $2.5 mill over the next 6-9 mth for?....so they are going to ramp up the burn to about $340k/mth?

And what...another raising immediately after that??

* "Environmental Clean Technologies proposes to enter into a Joint Venture Agreement with Tincom Australia Pty Ltd and Victoria Coldry Pty Ltd (Victoria Coldry)...The joint venture will be conducted through the joint venture vehicle, Victoria Coldry Pty Ltd.."

There it is - the deal is NOT done...yet. The licensing is.

* Does anyone know of any La Jolla success stories - they cant be all train wrecks? INL cant be compared to the ESI potential. But then again - why are ECT lowering themselves today - desperation? Post Nov 27 should tell the story.