re: Ann: Coldry Process Intellectual Property... The capital...

re: Ann: Coldry Process Intellectual Property... The capital raising has been mentioned by some as being just around the corner for months. In his last BRR interview, Kos states the current cash burn is about 2.4mill p.a. At the end of June, ECT had just over 1mill and received an R&D cash refund of $330k afer this date, which, based on these figures, would give them sufficient cash to at least the end of the calender year. ECT also stated it was in process of lodging applications for a further 2 refunds, i guess potentially providing a further 5-600k at some stage. The full year accounts also indicated ECT was offered a 3 year extension of its Fortrend line of credit, which, while less than ideal does provide them with some options. I agree the company will turn to the market for cash in the near term, it is not all doom and gloom