Replies to post #4820 on Echo Therapeutics Inc fka ECTE

[ramad]

If that is your reasoning the price of the stock would be considerably higher if you had multiple bids to finance echo. Secondly, someone most likely the investor demanded the dismissel of the CEO if their were several other bidders to fund echo the CEO would not leave. Thirdly, echo's current CGM that MTIA was developing most likely does not meet the standards to go to clinical trials otherwise they would have started the trials. At this time they have no medical device. Echo has to demonstrate that their new version of their CGM will be competitive to the others that are on the market as to the accuracy of the readings of the glucose levels. To my knowledge echo does not have any prototype of the new model.They only have the components which they are testing as reported but has no fully assembled model. Thirdly, being MTIA and platinum at the present time own close or more than 36% of echo. It is hardly likely another large investor would step in not having much control in the direction of echo's future.

[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.