AGM Friday, 26 November 2010 Chief Executives Address ?Last month we announced a funding arrangement with La Jolla Cove Investors. ECT will issue Convertible Notes to La Jolla Cove progressively on receipt of payments towards the US$2,500,000 aggregate issue price of the Convertible Notes.
Those with knowledge of finance and capital markets will know that placement terms for microcaps in this market typically include discounts of between 15 to 25% plus 5-7% brokerage ? Accordingly, a convertible note was negotiated on what we believe are more POSITIVE TERMS, that may allow conversions at HIGHER share price levels in the future, and with shareholders not having to fund brokerage costs".
Glad we saved on them damn brokerage costs!
"Additionally, La Jolla offers other benefits to ECT, such as providing US introductions to target prospects and investors".
What introductions? Will they provide immediate non-dilutionary cash?
We are it seems ready to conquer the world with all out "prospects" - which have reaped what?
ESI Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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