Ann: Preliminary Final Report, page-6

No, it's a way of paying others without depleting company capital by making the shareholders carry it.

The company issue shares as 'payment' which are immediately dumped on the market for the cash.

To go forward though;

"Phase 2 was subsequently paused in October 2021 following strategic review to allow a re-focus on formalising relationships with
potential project partners to enable the Company to accelerate commercialisation and diversify project risk and funding."

At this stage the 'potential project partners' needed are major players that can inject or raise substantial capital for ECT to proceed, not other small 'we only got a good idea' companies that are jumping on the green energy/hydrogen bandwagon.

What do potential project partners think about ECT?

This:

"In 2020, ECT Finance Ltd advanced an ELF loan to the value of $750,000 to Mr Iain McEwin which was initially secured by
750,000,000 ECT fully paid ordinary shares and 300,000,000 ECTOE options. This loan enabled Mr McEwin to subscribe for the
balance of the shortfall of shares and options in connection to the non-renounceable rights issue made by the Company during
that year."