Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-19

Yeah good point but a great time to accumulate! "ECT is the only pure exposure on ASX to Victoria's lignite market and those projects that will flow from its future, low emission use". "An exposure to a projected $40 billion Hydrogen market"
https://ectltd.com.au/investors/presentations/

I'm trying to be cynical enough to challenge my own biased bullish position on ECT but apart from cashflow issues and potential future capital raisings, which are inherent risks in every small cap trying to commercialise new techs, I can't seem to find fault in the management decisions in recent years. Maybe management could do better with setting expectations about the timeline.

I just reckon it's a matter of when not if. Hope I'm right!
Good luck to all. AIMO