i know who the seller is ??, page-8

Alright. I like ETC and it does seem "to good to be true"

What is holding me back from buying is this.

15 June ETC annouced $10m in the bank.

As at 31 December 2008

Cash $2m
Accounts receivable $8m

Assume Accounts receivable have been collected in the 5 months to 15 June. Thats $10m total cash on the balance sheet.

Now revenue for the first six months was $13m. That means to get to $48m for the full year we need $35m for the second half.

Since we have $10m in the bank at 15 June....the majority of the $35m has not been collected, or expense have blown out big time.