Ann: Shareholder Update , page-83

SP3, promoting poor play or being lenient is not acceptable in my view. We should not be encouraging excuses for broken promises.

Through delays in Monash funding, ECT have been forced into fast finance or dilutive equity raisings.

If Monash had provided the $4m or $6m they had promised, the share price would be well over 2 cents by now and we would all be better off.

By Monash delaying funding on originally promised terms, ECT shareholders may be forced to accept a more dilutive offer, that is assuming that Monash will cough up more funds (we are all waiting for the updated funding terms of the "April" EGM).

I am frustrated with the way events have transpired. Sure, the ALDP has changed the ball game and provided more time for Monash to deliver, but as it currently stands it is in Monash's favour.

With the technology ECT possesses, we should have more financiers wanting a piece of the pie. I don't know why we haven't been informed of a backup plan for securing a cornerstone investor (a very significant event).