While I wish the best outcome for shareholders, there is no...

While I wish the best outcome for shareholders, there is no escrow on the shares issued to La Jolla. If there was, it would have been announced to the market. La Jolla is not a charity. They have no stated ambition to be a long term holder.

In one regard there is at least a very tiny protection in the form of a 2c floor price. The convertible note agreement La Jolla has with VLA did not have such a floor price. However, how will ESI pay back the money they borrow from La Jolla if the share price dips below 2c? I really doubt they will put the interests of shareholders first and pay back in cash at the same time jeopardising the financial survival of the company. They will issue scrip as that is cost-less to the company.

BCC had a similar floor price of 6c with SpringTree but BCC has issued shares three times to SpringTree under the floor price.

You are putting a lot of faith in the company if you think they won't dilute the share price to below 2c. Essentially La Jolla is a favoured shareholder of the company.

These guys should have raised capital when the share price was at 5c. I thought that was a golden pump-and-dump opportunity for a cap raise. Even now, I think a one off placement, rights issue and/or SPP would serve shareholders much better than this poisonous agreement.