back to the companies long term projects, page-9

CarlTurk,

You say:
"I have been going ovefr some old interviews, timelines, etc etc, dates of the LJ issue of notes".
What do you make of these two statements?



"ESI signs it Biggest Deal!"
- announcement dated Feb 27 2009

In this announcement it says and i
QUOTE:

"Thang Long (Tincom) has also committed to fund all required financial feasibility studies and to include ECT?s construction and operation partners (ARUP, McConnell Dowell and Transfield Services) in the project".
END QUOTE


and todays announcement:


QUOTE:

"ECT will use the funds raised through the issue of the Convertible Notes for:

* further commercialisation of the Company?s Coldry technology, including ongoing feasibility
studies and design work for a demonstration plant;

* further development of the Matmor technology; and

* on-going working capital requirements".


As i understand it, Tincom DO NOT have to pay for the "Design Plant" costs.
Tincom will pay for all financial feasibilty studies after we give them the designs and access to our product etc.


What is the difference between:

"Ongoing feasibility studies and design work" (us to pay) and
"Financial feasibility studies"? (Tincom to pay)


That is the key understanding that shareholders need to appreciate better.



L