whats going on, page-39

FYI
ECSI LIMITED (ECSI or the Company) PLACEMENT
ECSI is pleased to announce that it has entered into an arrangement to raise $250,000 at a price of 1.8 cents per share with one free attaching option per share exercisable at 3 cents on or before 1 December 2012.
This issue of 13,888,889 shares and options will under Section 708 of the Corporations Act 2001 and includes parties associated with Alpha Wealth Financial Services Pty Ltd (Alpha). Alpha is the holder of a financial services licence. ECSI has received $120,000 and is scheduled to receive the balance of the placement funds by 15 February 2010. This placement will be completed under ASX Rule 7.1.
MANDATE
The Company is also pleased to advise that it has entered into a funding mandate with Alpha to raise a further $2,250,000; also be under Section 708 of the Corporations Act 2001 at 1.8 cents per share with one free attaching option per share exercisable at 3 cents on or before 1 December 2012.
The proposed issue of this 125 million shares and attaching options offered pursuant to the Mandate is subject to shareholder approval. Settlement of the Mandate placement is scheduled for mid March 2010; subject to compliance with the ASX Listing Rules and shareholder approval.
It is ECSIs intention to use the money raised to:

fund its working capital; and

re‐establish the Companys existing business activities.
ECSIs joint venture partner in China has implemented the enhanced security monitoring and access control system as part of the National Alarm Response System (NAR system which is linked to the police network).
ECSI after due diligence on the project cost, would fund the rollout of the NAR System. ECSI would allocate up to $1.25m of the funds raised to this activity subject to being satisfied with the budgeted cost and project income projections.
The Companys Chairman, Jim Green noted that it was fortuitous for the Company to be in a position to receive these funds (and the interest from Alpha, including Alphas Managing Director William Tien) at a time in which there was renewed interest in the NAR System. Alphas Managing Director ‐ William Tien has a solid reputation as an IT innovator, developer and early adopter and has a good understanding of the security industry.
Upon receipt of full placement monies and following the satisfaction