Ann: ECT Board Approval of Research Collaboration Agreement, page-31

I'll be surprised if there are not "unanticipated" delays and central to this is the bond mechanism for me. I think we are dancing with wolves that are not going to give us a break when it comes to the 3.5 mill bond. Hope to be wrong but I'm expecting them to want cold hard cash in the bank before we get financial closure not just some form of promissory note after all aren't they required to deposit their 15 million prior to financial closure. Will we get another dump into the 1 cent buys today as the ELF progresses along it's merry way? I really do think we are at that pointy end again.