Echo Therapeutics Inc fka ECTE

[ramad]

Echo made a decision to go with the Mtia plan which they believe is in the best interest of the shareholders and received the majority of the previous note holders approval. The bessers want control and by filing a suit 10 days prior to a note that is due could jeopardize echo of being in default that can lead to filing bankruptcy. The bessers have deep pockets and can drag out the suit while echo does not have the funds to defend it's case. No one knows at this time how MTIA will react to the suit. The culture of China companies does not act kindly to law suits and they might just walk away until the outcome of the suit.

My opinion is that the bessers know alot more about the company being they were in negotiations and had given echo a plan that was rejected. It is conceivable that they are very aware that echo has a product that can be commercialized and they want to have control thereby lodging a law suit at the last minute that can put the company in receivership. Whereby they than can present their plan to the receiver or maybe that Will be the only plan if MTIA withdraws their funding plan. It's a power play by the Bessers at the expense of all the shareholders.