In the event of Default and echo files for bankruptcy. Echo pledged all their assets ( technology, patents etc )to the note holders. If echo had a complete liquidation the note holders get paid out first. Reorganization most likely with either the bessers or MTIA in control of the company.
Noticed that Bishop signed an affidavit against echo. He is in bessers camp. He was the top tech guy at echo. He now no longer works at echo. Unconfirmed rumor that he was informing the bessers on the technology that was not diclosed to the public if true its a whole other ball game. Maybe that's the reason the bessers are fighting the MTIA plan. They want to control it especially if they know from the head tech. at echo that they have a product they can be commercialzed.
My sources tell me that under the MTIA lan the note holders have a right to cash out or exchange their note for the new note. So what's bessers beef. They can get their money back if they do not like the mtia plan and walk away, But no and with their action they are jeopardizing the new funding as well as having echo go onto default for their own greed. If they felt thst the deal from mtia why wouldn't they come to the shareholders and present
Why their plan was better than MTIA. The shareholders then would have an idea as to why they are going forward with their suit.o
One thing I do not like is the guy with the deep pockets that does not give to craps about the common shareholders who works hard for a living and wants the playing field level.
Hoping echo is aware and will be acting accordingly if anything improper was disclosed between bishop and the bessers. If not it will be brought to their attention via the proper channels.ly,c
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