Replies to post #71373 on Effective Control Transport Inc. (fka EFFC)

[davedavedavedave]

According to Gib, there has been interest on the part of several groups of new investors, who want to finish development of the CRAM and bring it to market (and make money), but he has also told me the same thing as he told you -- if they are not interested in ALSO protecting the interests of the original ECT shareholders (US, that is), in a way that's fair to us, then he is not going to deal with them.

So I agree with you -- screw them, for wanting to screw us.

From what I can tell, Gib and the Committee are actually keeping their promise to the ECT shareholders -- they are interested in protecting and advancing our interests. Otherwise they would simply have let the new shareholders come in, establish a new company, appropriate the CRAM patent, develop and market the device, and leave us with nothing.

Sure the SP of EFFC is now in the toilet, but so what, it means nothing to me since I am NOT SELLING.

[jermart]

Maybe you can come up with another name some how recovory team doesnt seem right. How about lets drop to our knees and prey something good might happen team.

[Two-Cent]

For the bankruptcy. This is the post I was referring to...

Dave,

It is my understanding that the original investors who were going to finance the bridge loan, & supply the intitial amounts of money to get the company going again have pulled out at this time. Apparently they wanted to bankrupt the company. (screw the shareholders) At this point they are looking at other potential financing......

NEWCO....This is similar to what RH was trying to do with axyomm/virgil.........although the recovery team is try to set this up in a more ethical way.......

It appears that the recovery team is looking for 2 million to get this jump started............