Very bad idea to use the Patents as security for the bond.
Once they have security over the patents, it would then be in their financial best interest to ensure the project has problems and delays, so that they can gain ownership of the patent for pennies.
I am sure the Directors have many friends who would be more than happy to Loan ECT the money at exorbitant interest rates, or even a Notes offering with Draconian conditions to ensure they receive all likely profit for little to no risk.
Questions for ECT Rep, page-2
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