More like chicken in egg.I have said this before, but it is...

More like chicken in egg.

I have said this before, but it is inconceivable that during the months of negotiation with Lind, the company and Lind would not have considered the deterioration of market conditions following a negative ALDP outcome and would not, therefore, have discussed how in that post ALDP nightmare scenario a current review of the options pricing would proceed.

As with the $2m underwriting, which I think all of us believed assumed or anticipated a positive ALDP outcome, a ‘current’ review would price the options in the context and anticipation of more favourable market conditions, as the current conditions (.4c) make any notion of pricing utterly absurd.

If the $2m underwriting anticipated a positive ‘in-the-money’ ALDP outcome, then what is the current review anticipating.

The assertion that it ‘intends to proceed with the new option series’ implies that the company is either extremely confident that market conditions will improve in ‘several weeks’, or is completely out of touch with reality and shareholder experience.

Again, the eggs are all in the India strategy basket IMHO and if management don’t or can’t pull this off then I have grave fears for the future of ECT.