Ann: Shareholder Update Bacchus Marsh Upgrades, page-36

True.

And as before it is highly likely that the ELF will continue to represent the lowest cost path to funds for ECT as long as the case can plausibly be made to loan holders that the ELF shares will eventually be valued above the loan balances. In the interim they will need to work very hard indeed with their limited cash and any debt funding they are able to scrounge up for the plant enhancements to get to the point where the market thinks the shares are worth more than $0.020 or so. Not an easy ask but if what they keep telling us about the value of the technologies is true it is possible at a stretch.

Still, as Robert sang: "Its not dark yet, but its getting there",

GLTAH.