Q&A with ECT

Firstly, I’d like to thank forum participants for their questions and make a few general comments before diving into some specific responses.
This Q&A is intended to help provide clarification on information already in the public domain.
Clearly there are some questions being asked that cross the line in terms of commercial-in-confidence information or incomplete transactions. And while the level of interest in certain topics is totally understandable, to answer those questions would be inappropriate.
Some of those questions seek a level of information only appropriate for Directors. So let me touch on an important concept for shareholders of any public company. The Directors are your representatives. They act on behalf of all shareholders. Their role is to sit inside the tent and make reasonable decisions based on the information at hand, with the guiding principle of long term shareholder interest at the core of those considerations. Shareholders can’t be privy to certain things, otherwise they’d be in possession of inside knowledge which would prevent them from trading the Company’s securities.
Further, it’s not in the best interests of shareholders for the Company to disclose certain contractual terms. To do so could give away certain competitive advantages, breach confidentiality provisions or weaken negotiation positions. What we can communicate are the objectives of an agreement and how they fit with the strategic plan.
So, with that in mind, lets answer some questions.
We’ve taken the questions posted, grouped them where sensible, and provided some answers. We’ll post these individually, and can then move to a more interactive mode.
We’re aiming to keep this session finite in terms of time, and will wrap up by 1pm or shortly thereafter. If this is received well by shareholders and other important stakeholders, then we will consider repeating this approach again into the future. Your feedback will be appreciated, directed to: [email protected]