Now that the dust has settled with the Besser's trying to sabotage echo for their own personal gains and clearly not for the benefit to the shareholders. Their claims had no legs to stand on, and the Judge was not hookwinked with their fancy lawyers bullshit. It was joke if you listened to their arguments at the hearing. What were they thinking!!
MTIA had in place to fund Echo $5M. Terms and conditions I will not reveal at this time due to confidentiality. Besser had a choice to be bought out or rollover the note. By Bessers actions they could have put echo in bankruptcy and a good chance of MTIA aborting any new funding and possibly echo loosing the China market. The bessers group are putting their own spin as to why they tried to steal the company with their own agenda the all the shareholders would be on the wrong end of the stick. They lost however at this time we do not know if echo just won the battle but lost the war. Bottom line will MTIA go forward with funding knowing they are extremely bitter at the Bessers and will continue to be a thorn to Echo. If their is anyone to blame this time around as to echo going forward in their development of the CGM it is the Besser group. For the sake of the shareholders I hope it did not implode the relationship between echo and MTIA which was fragile prior to Bessers actions.
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