Inconsistent description on legal use of cash by etlt. which one to believe , hard to tell. but seems an easy sell decision lloking at all this things/statement that doesn't make any sense. we'll see if ETLT will say anything tomorrow.
most recent filing
The Company has cash and bank balances of $45,634,503 which is more than sufficient to cover its PRC operations. However, if the Company is to expand outside the PRC, as it anticipates doing, or pay its non-PRC obligations, it will have to sell additional shares of its stock or borrow funds from third parties. Unless it is able to either borrow funds or sell additional shares, it will have insufficient resources to carry out its business objectives outside the PRC for the next twelve (12) months.
earlier this year additional clause was added:
However, because of the loosening of currency restrictions in the PRC, we can
pay our non-PRC obligations from funds held in China. Therefore, in the
opinion of management, we have sufficient funds to carry out our business plans
for the next twelve months.
