THIS was a message on another Eco board and had no replies, thought I would see if any "longs" had an opinion
...Smallcap, Bill, are you guys seriously defending this desperate financing?
They raised money at 8% interest over 3 months. That alone is horrible. Now you suggest that a "normal" company would have had to sell 10% of the company to raise $1 million in secured debt?
No, most normal companies would take out a $1 million working capital line of credit from their bank, backed by receivables and inventory, and paid 1.5% over 3 months and sold NO equity.
Most normal companies actually HAVE a banking relationship.
Most normal companies, after announcing a "$100 million international financing" as ECOB did a few weeks ago, would have tapped that financing. When does the SEC come calling over that alleged financing that was press released, but then seems to have gone missing?
Most normal companies would not be fighting with the primary investor who put millions of dollars into the company, as MRL did.
SmallCap and Bill and the rest of you ECOB apologists and insiders who troll around here: After saying seemingly forever that MRL was steadfastly supporting ECOB, care to explain what happened?
Care to explain why Steve always seems to be in the middle of a legal fight, whether with Bluwood, or Megola, and now MRL?
UGLY. Not much time left for this dog with fleas.