Echo Therapeutics Inc fka ECTE

[seeker_of_value]

Public release of the proposal by Montaur Platinum clearly indicates that Platinum has earlier proposed the same items to the board and the board had rejected it. Now that Mooney has been sacked, the board may be more amenable to the proposal. However, I do not think that is the case. If the board was agreeable to this proposal the discussions would have been completed by now and there would have been no need for Platinum to announce the proposal publicly. So I suspect that the board needs further persuation to accept this proposal. Public release of the proposal is a way to put extreme pressure on the board because if the board rejects it now and later the stock price plummets, the board will be fully responsible personally. All board members will face personal suits against them.

On the surface the proposal looks very good. I personally would approve the proposal based on my limited knowledge. Of course, we do not know all the details which must be worked out before acceptance of the proposal by the board. I am not at all sure that the proposal will be acceptable to this board. After all, this is the same board that presided on the destruction of the shareholder value.

Seeker