esio on the move

On Friday, a buyer purchased 1,000,000 ESIO options at 0.6 cents, a positive sign for ECT shareholders.

ESIO hits 0.6 cents for the first time since 27 Feb 2013 (that is around 2 months), where only 100,000 units were traded at 0.6 cents. Back on the 27 Feb 2013, ESI shares were trading at 1.0 or 1.1 cents per share.

Why is there such an interest in ESIO right now when ESI shares can easily be purchased on market at 0.9 cents?
- ESIO can potentially offer better returns in the short term. If ESI shares reach 5.4 cents, ESI and ESIO are on par for this buyer. If the ESI share price exceeds 5.6 cents this buyer would be profiting more from holding ESIO.
- People obviously believe ESI will get the Monash $6m funding very soon. ALDP funding must also be in the bag. This investor is also confident that Monash will fund the CDP and all this will occur prior to option expiry, January 2014.

This speaks great volumes in terms of IMMINENT news, hopefully not by ECT’s definition.

Let’s see if volumes pick up on Monday.