"it appears they are waiting for the ALDP funding allocations...

"it appears they are waiting for the ALDP funding allocations and then making a decision to invest the $6m (assuming ECT receives some of the funding). "

This is clearly what seems to have occurred. However this will constitute Insider trading and is therefore illegal.

If Monash does not put in the cash prior to them finding out that the ALDP funding has been granted....that is, if they await the funding news, then they are buying securities in ESI based on information not publicly available....simple as that.

This would constitute a serious breach of securities law and carries very serious penalties including jail time.

Your management has failed its shareholders by NOT ensuring the cash was in prior to the announcement of ALDP funding. Hence why they continue to issue and dilute additional script at a discount...which continues to put pressure on the SP...so it continues to spiral.