Right now, if ECT was required to fund $10M, we wouldn't be able to do that because Brevet would not fully fund it at this stage. If you recall, Brevet agreed to fund the Indian project provided ECT cod get a favorable overseas R&D tax ruling. At this stage ECT has only got a favorable overseas ruling for Coldry - not for Matmor.
Not sure if the overseas tax ruling for Matmor has stalled or is still in progress. Maybe they paused it given the Indians are now fully funding the project.
Ann: India Project Proceeds to Next Stage, page-349
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