Options Conversions, page-3

This statement was made as part of the ELF capital management in early March

1. At present, the Company is targeting a 20% conversion rate of the ESIOA and ESIOB options to provide sufficient working capital for the next 18 months to 2 years.
   
   
   

In dollar terms that 20% equates to just over $4.6m.

As of today, since that March statement ECT have brought in through conversions appropriately $3.4m.

Considering Fridays 3B was just shy of $1.1m, if this week we do get the monster 3B then the $4.6m target will be surpassed.

If fact with contributions of cash made towards the ELF I believe we will exceed the $4.6m target set to achieve our working capital requirements for the next 18-24 months. Throw in the ELF contribution through interest payments and people paying out their loans over the next 3 years as the company hits its targets and I would think our working capital needs are assured for the medium term.
Again kudos to management.

A wonderful outcome for all shareholders and option holders.

Many reasons for ECT shareholders to be enthusiastic about their investment going forward from here.

Again this is all IMO and from my understanding.