No details have been released, although we do know from the Sept 20th PR, that the deal with Eauto was originally meant to be an acquisition.
In later PR's the deal is referred to as a merger.
It looks probable that the deal has been changing through the process of negotiations.
It may be the case that ECFL have to pay cash in order to complete the merger in light of the trading we have seen the last couple of days. This would actually be a good thing in the long run in that it would hopefully not result in paper being issued.
Maybe the co thought it would be better for the long term health of the share price to dilute the stock now to raise cash, rather than put investors off by the future threat of dilution.
If I am right, and no paper is issued as part of future deals, we could see a very nice climb from here over the coming months.
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