Hopefully, EFL can handle the changeover and any finance requirements with grants, cashflow and/or sale of equipment. There appeared to be a lot of equipment no longer needed which can, according to Sankar, fetch some good dollars with the right buyer.

This is a "deal with the devil" zone for institutional financings. A lot of dilution for a very small $ return at these prices. I sincerely hope they resist and find alternatives. In order to produce any meaningful amount of proceeds, they would have to issue at least 10-20 mil shs and the warrants that go with them which IMO is unacceptable. Add that to the most recent financings at 0.70 and 0.90 and it wouldn't be pretty.

If EFL is on the right road, brokers would be licking their chops to get in at these prices without having to buy in the open market. Having to buy 10 mil shs in the market with the small EFL float would sky-rocket the price out of their control. I wouldn't be surprized if they're working EFL right now. Could explain the lack of bids at this time as brokers line up to present their deals and sucker EFL. Brokers much rather prefer bought deals with set prices than having to buy large blocks day in and day out in the market. This is where Halka has to be very smart. Too many small cos needing capital get crushed under the deals with the finance devils they've had to make to get it.

They should find a syndicate that would first promote the company and raise the price to the $2-3 range. At that point, they could then do a 5-10 mil share offering and get significant operating funds for reasonable dilution. I think they know enough now, insiders that is, they could present a compelling story going forward to convince brokers to make it work. To do it now, at these prices, would not only be idiotic but would serve to create a messy share capitlal dilution pissing everybody off. Perhaps Florian Jacsch has some answers.