options...good value?, page-10

I'm not certain that there will T/O but have a hunch that it's likely.

I think because of the revolutionary potential of Coldry and Matmor technology, the general market may lag in valuing ECT correctly. This creates an opportunity for a big player to project a significantly higher valuation and to acquire the potential before the market digests the implications. I would expect it to be a company that participates in the JV and is thus able to determine the potential against the risks.

A lot of cashed up companies are using the depressed market to pick up bargains and/or buy back their own stock. If ESI ticks the boxes according to plan, they will pass a point where big players will act fast.