As a holder of the stock, I have to say I think personally...

As a holder of the stock, I have to say I think personally you're right on the mark with your suggestion many are now possibly starting to doubt how probable it is ESI will receive funding as initially proposed. I know I certainly am.

It could very easily drop to 1c tomorrow going by the last minute buy orders being withdrawn at 0.016 and today's overall volume. I'll hold only because if I sold ATM I'd be losing out, instead I guess I'll rather go down with the ship.

We've been told the DFT program at present would be the company's highest priority, hence the "Fast finance" loan of 1mil. I believe the board isn't going to rely on Monash anymore (if they manage to come through, great that'll be a bonus) as it seems the 1mil will suffice in completing the DFT's (assuming this to be by the end of the year) I conclude they'll simply examine subsequent tenders from potential suppliers. Not a real confidence booster, but what can you do when your supposed CSI isn't reliable!