It appears, with the recent announcement of trading in the US on the OTC (Over the Counter Exchange) there is anticipation of a “Piggyback Deal” on Aug 13th. http://www.otcmarkets.com/market-activity/anticipated-piggybacks CFO Halka stated in the PR there was “incredible demand” in the US. I won’t explain a piggyback deal. You guys can find it easy enough.

It would appear there is plenty going on in the background. If Sankar is going to relinquish some of his stranglehold on the company (he’s the only one with enough shares to warrant a piggyback), it will be interesting to see what price is agreed. The thing with a piggyback is, …. the buyer HAS TO accept all tendered shares, not just Sankar’s. This suggests, they must be very aggressive buyers willing to take all. Interesting ??????

Question is, will there be a secondary offering along with this. The piggyback merely transfers shares and does nothing to raise capital for the company. If growth needs are as stated, EFL may have to raise funds in the market.

It would appear, IMO, Brokers may be working the price down to load up at the expense, as usual, of the unsuspecting retailer.