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1) auditors have to say such things, technically, if esi didn't use fortrend/major shareholder/insto investors/pesnion fund/fund managers/tin box/whatever the source... then like many technology/exploration co's they would be cashless eventually...they are dependent on cap raising, of course they are, hardly new news, but an indication of esi tidying up corp governance (yes con is proud of that).

2) yes esi needs cash going forward, arguably dilution via fortrend is not what shareholders want, me included (who bought at 42c and have been ever since) though i'm sure they'd prefer having cash to get this thing finally off the ground. i would hope that investors will agree to raise capital above SP (eg 12c) as its so illequid that any buying would move this thing well past that in no time would support esi and would understand long term viability of this co.

3) do some more research, esi has a world beating technology, but arguably needs some management change, which it will get. it has done all the right things of late, though burned cash rather agressively to push for commercialisation.

4) we are almost there. these are crazy prices. i wish i had the cash