I can't understand why there is so much uncertainty and...

I can't understand why there is so much uncertainty and nervousness. The funds are in the bag. Read the ann carefully, it's a done deal imo.

"In the event there are delays beyond 26 July 2012, Monash Capital has proposed a contingency program comprising the issuance of up to 300,000,000 Fully Paid Ordinary Shares (ESI) at $0.02, with 300,000,000 Options (ESIO)."

It looks like there will be a delay but the contingency program is rock solid. Besides the $1 million loan/advance will see you through with a reasonably low interest rate.

"In the meantime, the Board has accepted a “FAST Finance” loan through Greenard Willing which will effectively provide a $1 million advance against the expected R&D tax concession due in October-November 2012."

Don't panic, read it through.

http://www.ectltd.com.au/asx-announcements/shareholder-update-capital-raising-3/

It's a beautiful day, the sun is shining, just landed first barra (bit small but still, could be stuck in traffic), and the $4m may come today.

best wishes