Ann: Capital Management Update, page-143

Hi Om

ECTs, ELF as you say do have the potential to hold millions of shares

BUT

Surely this is where it ends as Archer states they are only holding the converted shares until such time as all lenders pay back their respective loans,

as you state they may well be held in escrow for the three years

BUT

on that same note they may well not be

depending on various holders circumstances as it states in the last Ann holders will be given an OUT OPTION every 6 months from the starting date one would presume as per ANN

so in actual fact if a holder is struggling to convert now and signs up for the finance just 6 months in, the sp could change and holders could find themselves paying the penalty and exiting the finance package for whatever reason and selling a number @ market for whatever reason.

Just exactly whom is financing the ELF is a very good question and one I am looking forwards to being disclosed, I did ask and made it known that it would not look good if for any reason it related back to either P/R or G/W this for me would be on the nose big time, I was assured this was not the case,

SO who will the financier be ?

BIG BIG ? that i presume will be answered when the details come out on the ELF ?

OM you say

Has anyone considered the possibility this could become our very own company buyback?

if you are talking about the options OM they are not buying anything back they are financing a conversion,

i do apologise OM but you would appear to have jumped ahead of me somewhere along the line as i most surely do not think you are referring to the options converted

company buy back from where and from whom

then you say

In 3 years (or less), with our techs proven beyond doubt and earning revenue, in India and Australia, I have a conspiracy theory that an amalgamation of NLC - NMDC - ECT shares will reward us investors.

If as i believe we have fought so hard to retain the IP once the build is done and we are earning revenue and the flood gates of a proven tech is announced

WHY would we need to amalgamate with NMDC and NLC unless it was a very, very attractive proposition

OM i am not challenging your theory here, its just that personally i find it a bit sketchy and do not 100% understand where you are coming from, would appreciate a little further infill if you would oblige as i do value your thoughts along with many others on this forum

including yourself sideways