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@Anonymouse1
Definitely not the same people. Funny though!
As you mention the website is down. Went to a BBQ over the weekend and someone at TUV, a company in the same building as ECTE, mentioned that the ECTE office was locked up some time ago due to non-payment.
On another note, I took @Ramad's advice and invested in XRP when it was at .45. The road looks pretty paved from here. Thanks for throwing that info out there. Hopefully it stays course.
-LT
@No_Easy_Money,
I'm no expert, but I agree with what you said.
Going NASDAQ is expensive. You would have to be "certain you had something to bring to market and go primetime".
As we saw with ECTE, going to OTC gave them a sandbox with their own rules.
@No Easy Money,
"Did Echo actually have fda approval for any generation of cgm to be actually commercialized?"
mmmm.....Nope. Everyone would have already known this. In the real world, if company XYZ has a product already fda approved, stock would have have reflected this. Also, a larger company would have bought out said company.
But for sure, that IP is going to be worth some $$$ if Nemaura is able to disrupt the current CGM business.
When Abbott got FDA approval for their Libre, we tested it in house and they have a very good sensor(gen 2). Abbott started purchasing Advertisment (radio/internet/tv) attacking Dexcom stating that their CGM product "Kills people in their sleep". Abbott is also banking on the fact that they are 0 calibration(after 12 hours of warming). Obviously Dexcom and Abbott are at a battle for the space.
If Nemaura comes out with a NI-CGM, someone is going to be interested. (either to hop on board or kill it). I wouldn't be surprised that Dexcom will pair with Abbott legally and defend the invasive market and just block their sales. Who knows... capitalism is a battlefield. Buy a couple years before they are able to cook something up.
interesting....
That does put Alan in an interesting position. If there is a non-invasive CGM out there, then the IP from Echo is of value if a competitor wants to go non-invasive as well.
Anyone know where Echo stands? Where is the tech/ip now? No info from my sources. It's been dead silent.
....May sell my shares just to write off in taxes for next year.
@Ramad
Whats the outlook for the ripple? I've been tracking for some time and there was great traction up until South Korean banned it. I was thinking crypto to recover from Echo.
"Apple's iWatch may make Glu's technology obsolete."
We have to "watch out" with apple's new tech claim.. no pun attended. There has not been one successful company to release a non-invasive product. I personally believe what they first release (maybe in 2-3 years) is nothing more than a "FitBit quality" entertainment meter.
The mobile market, as i said from the beginning, is running out of ideas on smart phones. Integration to external systems (home automation, medical devices, automotive) are now the key to revenue. Home automation and automotive have been hot topics since I even started in the mobile biz.
Medical devices on the other hand is very new. Most companies are treading lightly... waiting for the larger companies to pave the way. It was not until a couple years ago that the FDA had placed rules for mobile apps. Forget mobile devices integrating with apps.
It will get there. Health insurance companies are already signing onto "mobile home health diagnostics". The issue is that medical device companies are 7 years behind due to the FDA submissions they have to make. Their development methodology is old school and does not compare to the large funded Agile directed groups. Coming from the mobile telecom industry, it's fast pace. Cell phone manufacturers give companies a very small window to make it big. If you miss it, you have to wait for the next flagship phone the following year.
One thing is for sure... once a Telecom company with FAT wallet gets into the medical device arena, its a shit show.
Interesting Platinum news. Amazing how far their f'ed up net was casted.
Platinum partners hedge fund connected to NFL:
http://nypost.com/2017/07/29/hedge-fund-accused-of-ponzi-scheme-is-ruining-athletes-lives-former-nfl-player/
Video is from December... but was posted on CNBC Jul 25, 2017
https://www.cnbc.com/video/2016/12/19/platinum-partners-hedge-fund-founder-others-charged-with-fraud.html
probably around the time of this one:
@wizo , @USOB..
Don't care these days, but I'm pretty sure Tom went there personally to the ADA. I clearly remember having to drive back to the office at 11:00 pm in the middle of a date on a friday with my wife to send some software over there. Anywho, Reason for my response.....
@USOB,
Dude, last message directed at me was disrespectful. My comments don't exactly align to investors of Echo. I was here to post what happened as an employee, so you can make your best judgment on your investment. With the info that I confirmed or denied, I did make many obvious statements that aligned to your agenda and others.
NO JOKE!!! If you post something else on this forum that sounds threatening, I'm going to start reporting you to the admins. There is seriously a difference between venting and threatening.
Still to this day, no one can tell me how DDBuyer got 3rd gen documentation. Like seriously, I've said it many times. That forum he/she ran died when PP started getting investigated. Just piece the puzzle.
-Paul
Another milestone for Dexcom. They just have too much fighter power. Wondering if I should bail my current project and jump over at Insulet with their partnership with Dexcom on the AI pancreas.
https://www.thestreet.com/story/14163691/1/dexcom-stock-surging-on-apple-watch-partnership.html
Echo needs to find a way to get into a partnership with at least one company. It's a blood bath out there
If Alan can cook up (Or the MIT person he has been talking to) a presentation with using the gel technology for drug delivery, it is very possible they could spark a flame. Controlled insulin absorption. Someone could throw a bone which would allow him to ramp back up the CGM product.
I just don't think there is any trust left under the Echo name, with PP attached to it. There is probably a mile long list of vendors that are owed money.
Interesting note. @Ramad, do you have any info about this MIT person that was brought on? I have a feeling Alan has used him in the past... the "silver bullet".
Drive a startup to it's knees, get loaded on stock, then bring in an expert to try to bring the company back to life.
There is a company called "Valeritas" up in Shrewsbury, MA. They have the V-Go insulin pump. I believe they completed it recently. Alan should get into his car, drive his ass up to Massachusetts, and get into talks about interfacing the Echo CGM to their pump. The Echo API library was designed with interfacing with pumps in mind. See if they are interested in throwing in some money.
If ECTE didn't have such a shitty track record, then MTIA would just be a partnership with a source of revenue. The partner list could have been endless. I personally thought an acquisition would have occurred. Echo had no resources to extend the IP's potential. Non-invasive way of measuring glucose and delivering Insulin would be the Holy Grail for all diabetics. Medications could then be based on the gel technology and it just gets better.
But... because the common denominator is PP in every single case, ECTE had to bend over and sleep with MTIA and use them as their lord and savior for funding. So the Greed was not with Bishop, it was with PP's as the puppeteers, controlling Scott H. and Alan S. They were probably hired because they are notorious for turning companies into shells and understand PP's way of business.
With Echo on their knees, R&D stopped due to negotiations with MTIA. This is bad business. You cannot get anything done if your constantly stopping. For example... if we found out we were not getting paid, I certainly didn't work at my full potential. After 2 missed paychecks, I would just watch Netflix and chill while I looked at the open source glucose projects.
I said it from the beginning, PP's had to go. And because of PP's greed, they are going to all line up in prison picking back up the soap. Glucose is gone for Echo. Schon Vorbei! They need a new business model. Drug delivery at best.... or tattoo removal.
@ramad,
You said on many occasions that the employees of echo were not competent enough. Do you believe MTIA could take over the R&D and fill in the board (Rocky or/and Bai) and push out a product, with the correct funding, in at least 2 years?
Sorry Ramad, but the "Bish" was not greedy.
I said on many occasions, he has a personal agenda to get that product released. It is not
because of money. Fill in the blanks
Most VP's would twiddle their thumbs and just bark orders. He designed the architecture, with the director of engineering, and produced an absolute solid architecture that I would compare to German engineering. My resume is public. I have a baseline. If you want someone driving your design, he is the one in this area you want to manage it.
If he blew the whistle, it was for a real reason that I would have personally agreed with. Silcon valley has their side of the west coast, Tom is building his legacy here on the east. Not because of greed, but because of his personal involvement and integrity in the diabetics space.
So sorry Ramad, as much as I disagree and still hold a personal grudge against Tom Bishop, he is basically the Steve Jobs of diabetics on the East coast.
...try again
-Paul
***NOTE***
@Ramad... Whatever your angle is, you should let us know who you are. It is not fair that there is a forum trying to gather some ounce of comfort and publically announce who we are as investors. I'm probably the only one that can confirm 90% of your statements were true. Sure, lots of idiots didn't manage their stocks correctly. How many Echo employees came out here to join? Or how many came to support your claims? Yeah... Do me the favor and give some moral and emotional support for the long term investors. Yeah, we know you have all the insides. At this point, give some guidelines and support us.
@Ramad, what is you opinion on the next step for the common shareholder at this point?
Info from contacts over in Germany have told me there are 4 or 5 non-invasive glucose projects that will pop up in the coming weeks from Europe. With requests from a couple companies to jump ship and work with them, it's going to be one massive battle.... glucose meters have joined the fast paced telecom-like industry.
In these situations... the guys with the bigger pockets ALWAYS win. I'm hoping Apple's product is junk just like Fit bit's heart rate monitor. Lol, only time will tell when Fitbit makes their CGM announcement. They have a sensor team in Cali and an embedded team here in Boston.
He seems like an ethical person. I feel bad for him because he was dealt a very bad hand. CEO of a disaster. He probably should get more praise, but my situation was the way it was/is and I have my own opinion on the matter.
I hope Echo comes up with funding. They are so close. With what has happened, worse case is the main shareholders will create another company. I am pretty sure this was their agenda.
I moved into diabetes after my years in Germany @Ericsson. Not going anywhere. New England is the capital of medical devices. Medical is like the automotive industry...very slow with the dependency of government regulations. Telecom has much more testing invoked than FDA. (FCC, TUV, and service provider network testing) I'm applying German concepts into the medical device area, specifically in mobile. A few of my Jedi masters are at Siemens, Merck, Draeger, and Bayer in Deutschland applying similar practices with MASSIVE success. Unfortunate for Echo that they took my ideas with a grain of salt. Too many CxO's with their heads up their ass...lol, amazes me. Traurig.
A small project/company needs a faster way to Market. In medical devices, teams tend to be smaller because they are used to this "slow to market" waterfall methodology. No offense, it's full older people. I appreciate their experience, but I walk around the office and it looks they are more concerned about extreme testing of solitaire and minesweeper than actual dev work. Are their still bugs in the games? A massive telecom industry just announced they are making a med device. Other med device manufacturers with an objective to interface with a smart device have to adapt, or they will end up like Blackberry. 1 or 2 software developers (like Echo) is a laughing stock. You need a consistent and competent team. 2 embedded, 2 mobile apps, 2 tools, 2 QA. Lol, Echo had like, 1.5. Upper managers were 7.5 ( Alec G. being the .5) At Ericsson in the mobile division, we were 600+ sw engineers. Dexcom just replenished their group. Medtronic did the same.
Lol, wait until the upper German companies I just mentioned come out with their CGM's. Abbott's CGM in Europe will become a Kühlschrank magnet.
@No Easy Money
Yeah... Those guys are working on a similar dermo idea, just different patent. Remember, I posted a link to a watch some time ago. Lol, no one commented on it. That watch (used)uses a hydro gel to non invasively get gluco values. That project went dead because people complained about burning in their trials. Nemaura is essentially doing something similar with a different patent on their retrieval method.
Guys/gals all have to remember, getting a gluco value non-invasively is NOT ACCURATE AT ALL!!! I don't care if Apple puts pure silver in their electrode. It's about convincing the FDA that the trend is what matters. You could have a sensor that is 20% off. If it calculates the rate of rising and falling pretty well, you have a CGM.
No, I'm not working with Apple. I had 5 emails already after I posted that. Current project WILL BE better than echo and any CGM out there. I'm leading this one. any medication you take will be accounted for. Every CGM out there doesn't work when a diabetic takes meds and/or pain killers
@USOB
Thanks man, no Kudos though. I declined all. The project I am working on is better than those who have asked... and Apple ;-> wink wink
@Flaviker
Not sure if i would agree with ramad totally with the "short" comment. After Apple's announcement, there is a lot of noise out there. I've already been approached by 2 companies. They were willing to expedite the interview process to hire. All west coast. I was not given the company names. Do an indeed search in California with search words for FDA & BLE (Bluetooth, Bluetooth low energy). It is crazy right now.
As i mentioned in a previous post...with the Apple announcement, you will see companies ramping up and making announcements. They will pay top dollar for anyone working on the Nordic NRF51/NRF52 platform.
@everyone. Not sure if making a complaint against ramad is the way to go. I can see an insider trader suit, but that is already a norm for ECTE. Most of ramad's comments were spot on. My disagreement with ramad is only finding out where these "insider comments" are coming from.
Where is DDBuyer? Funny that no one ever brings this entity up. Probably a good direction to look into. I was following DDBuyer before this forum. I was noticing a pattern with DDBuyer's forum when any internal accomplishments were made. The moment PP got caught, the DDBuyer forum went dead.
**************HOW DID DDBuyer GET INTERNAL DOCUMENTS ON GEN 3!!!! They were internal!!!****************
-LT
@Kinny
"The early ones showed their selfishness and drove the company into the ground and followed by the next ones to "save it" also just as selfish and then next ones and so on. A bunch of piranha tearing at the carcass taking/striping rather than healing/helping. How can anything succeed?
PP was the common denominator in both cases... so if PP is involved in some miraculous 3rd universe, then most likely will end up the same.
@No_Easy_Money,
That is correct. There was some "demo" material... but it was like watching a sexual education video on VHS recorded in the 80's. Like you said, there are college kids out there DYING to get a project for experience. They could have done some videos for PR with a Go Pro in 4K video with some editing and layering involved for maybe $15.00 an hour? Summer internship perhaps.
Haha... we actually had a PR person. Not sure what happened there. Unfortunately, money went into R&D which was important. Can't really paint a turd in Gold and demo it. Tom Bishop did most of the PR work IMHO. Reached out to make an attempt to tie in resources for the gen3 project advancement. He has an extensive engineering background, so he knew what was needed.. even if getting out of his shell to shake some hands and do some demo's was required.
I think MORE NOISE is required to get Apple's attention. One thing I did not understand. Why was Echo not engaging more in the community? A few videos posted on their website of the technology, how it works, etc.... would have been enough to attract others to at least be interested. Staying silent will not bring anything to the table. I believe only investors are actually keeping track of Echo's CGM. Why not actual diabetics? Well... they don't know about it.
I would have expected:
-A video demonstrating the technology at a high level
-A video Going through the abrasion process and sensor deployment
-The solution in Action | Sports, community events, a demo at a school or clinic?
-Instead of these Macro milestones, there should have been micro milestones where each feature or step towards a Macro milestone is demonstrated publicly. For example, connect with a diabetic forum or Reddit and live stream a demo.
Also, They need to get on board with Agile methodology. Not having these management tools in place these days is insane. Being able to accurately put a cost on effort is extremely vital. Especially in Echo's place where cash infusions are important. Each time a sprint is finished, make an announcement via the website. When a story is complete, make a video and put it on the website.
Mentioned above is what attracts Apple and puts value on a potential disruptive technology.
@USOB,
I agree. It is not uncommon that a large company will buy out a company with the only objective to put it to sleep. If Apple see's a threat that can can squashed with just the change in Cook's back pocket, they will close that tech down and wipe their @sses with the patents. They will first sort through it for corn and use it in their solution... but then flush.
Greed Greed and Greed.
Too many people in the throne with their heads too far up their @$$es. Large Ego's. The problem with Echo and many alike, they feel like they "entitled" to a piece of the pie... regardless. DISGUSTING!!! Amazing how degenerates can still walk among normal people.
So many people with normal jobs that dedicated the past couple years into this stock are the ones I feel bad the most for. Have a family with kids, bills, mortgages, recovering from 2007/2008 crash... Or like myself, paying off thousands in school loans and medical payments.
@Everyone,
Platinum and the management at Echo only gave 2 shits about themselves. These lifeless d|cks better hope they speak German. Thats the "haupt sprache" or main language in Hell. Big babba is sitting in Federal prison making sure he gets them there.
@ Ramad,
In USOB's defense, and others... we were under the impression that CFDA trials were going to start. PP news of fraud was blowback that SHOULD have cleared. If i remember correctly, ECTE was not even mentioned in the first months. If Echo made any public announcement of delays for what ever reason, that information may/could have made a great contribution into our decision making.
Even as an employee, I didn't know what was going on. It was only a couple weeks after that when we stopped getting paid. But I guess I can understand Ramad... I could have, with what little shares I had, took a small loss instead of watching it tank.
@hemopure36
"Although it makes some sense on the surface, there must be a good reason MTIA wanted and/or wants to offer financing"
I believe MTIA is at their knees. They spent a lot of money setting up manufacturing. At this point, I am sure they are ready to pull the trigger. The source of funding backing MTIA may now feel like the members on this board.
@USOB,
I thought the same. It clouds my judgement regarding my last statement. This would be absolutely shameful if it did occur. For our sakes, I will continue to be hopeful that the latter doesn't occur.
...but MTIA may never be able to legally father a CGM without PP being there. It could be a bullet they will just have to swallow. A long lasting shitty marriage.
@everyone
They need to shape up QUICKLY!!!! Too many companies are going to be screaming soon. Apple stirred the pot, which is a good thing. It will be the wakeup call for anyone in the Non-invasive/semi-invasive CGM market.
In terms of resources, Apple only has to tackle the sensor technology. An embedded device to deliver sensor data they already have (iWatch). They also have an endless amount of resources to make a killer "feature"-istic app. All other companies out here in the battle grounds have to provide the entire resource stack.
One thing I'm trying to pull resources on. Will Apple easily allow vendors to deploy their CGM solutions in the App store? They didn't easily allow google maps on their iPhone 4 phones. They most likely will block apps on the store to allow them to consume the CGM market. Android may be the place of battle.
FYI: Samsung is already trying to come out with a CGM
"Instead they will just let the company fold. The creditors will go to court and put in their claims against echo. No one at Echo will argue against any legitimate claims because they have no money to pay the legal fees."
Hopefully not, but if this is the case, then their plan (probably for some time) would be to let Echo die and spin off another company with the major share holders still holding onto the IP. It would be an attempt to continue the technology under another umbrella, since Echo has too much baggage and history to attract investors.
Anyone think similarly?
If anyone has a personal attachment to diabetes, or has interest in reaching out to the community or even see how diabetics interact with today's CGM's and insulin pumps, this is where I go.
https://beyondtype1.org
-Paul
Just have a little respect and professionalism.
http://www.linkedin.com/in/paul-santos-49677750/
@ramad,
If you didn't get the point... I am the one that worked at Echo. It's not "someone". Yes, with the 15 min's the forum has for editing, i retracted my post.
To be honest, I only have $2,000 USD invested in stock. So, the info i give to @USOB and other members is not worth shit to me. I'm actually taking a LARGE risk posting on this forum. Maybe I have morals and feel that other's should know that @Ramad MOST OF THE TIME, actually says some truthful statements.
Of course, @USOB is going to come swinging with some shit like " your a back stabbing... or I'm recording you... ".
My retracted post reiterated that Ramad has only blamed the "incompetent" engineers/technicians for the said "failure" of the CGM. That is not correct. And shame on you Ramad for saying so. You can't just point "single" fingers at a group of people that were working for "share holders" piece of mind for FREE! Go fly a kite. PP picked it's assholes to attach strings to and the list goes on. It's a conflict of interest in my book if there is a "Goldberg" in PP and a "Goldberg" in the BoD's of one of PP's egg baskets.
My post said, and it's public knowledge, that "at the time" when PP got screwed for sticking it where they shouldn't have, people got pissed because there were no public announcements. Ramad always blamed Echo... but that is not the truth.
PUBLIC KNOWLEDGE: Mtia was in charge of manufacturing. But Ramad never mentioned any failure's from MTIA's side. Which made me believe that Ramad is a client of MTIA. Ramad only cared about pointing blame at Echo technicians and engineers. MTIA's manufacturing was junk. MTIA got offered to make a deal for gen 3 IP (public knowledge), but they obviously didn't take until the last "promised" investment. IMHO, MTIA is sticking it out to wait for Echo to go bankrupt so that they can pay pennies on the dollar for IP that they can return to the original donors of the money first invested in echo from MTIA (follow the money from the cayman islands.. .or Virgin islands, w.e.)
So don't be dicks about it. I mostly feel bad for @USOB and others because, like myself, i was lied to. I lost more money in my 1 month of lost pay than what i invested in stock. This forum has really gone dark.
No "Hey thanks Lintin for mentioned that"... or "thanks for being the only employee to contribute". Ramad is right... everyone has a right to file a complaint or call. If you didn't, then its your own fault. If you didn't hear any information from the company PAST due an announcement, then something is going on. DUH!!!!
@USOB... some of the stuff you post is boarder line F'ed up. You should bring it down a notch. Threatening people is the reason why i retracted my post. I was afraid some hit man would show up at my door. My identity is pretty easy to figure out. I don't know shit about you.
-LT
I think you misunderstood me. I said everyone can be pissed that there was a blackout period because of PP.
@ramad,
I agree/disagree.
First and foremost... Echo went into total blackness with announcements when PP's got into their mess. Shareholders have every right to be pissed.
sigh....
I went to 6 different lawyers to get my month's income I believed i was entitled to. Once the last lawyer actually billed me for "consultation", I made my last post on this forum and gave it a break. Trust me.. I've fought enough. Lawyer's do not seem too enthusiastic about trying to sue a company with no money unless I am willing to pay lawyers fees, just in case they don't succeed.
There is a Massachusetts vs Echo Therapeutics wage lawsuit that I was part of because of the lack of funding and false information from the ex CEO and current CEO. It's public info. Look it up.
I'm actually disappointed at you. You have great skills for digging deep and pointing out some of Ramad's false statements, but then take a very dark and personal side and attack me for just saying that one of his statements was actually true? What Ramad is doing is wrong... absolutely B/S that there is no evidence to support what is thrown up on the forum. But remember, I fucking worked there. So what gives?
The pain and suffering I endured is different than yours. I worked and was promised compensation for the hours I worked and I was burned. What we have in common is the deceit and lies + lack of info/transparency that came from the same person(s).