Hi Tag : Was hoping ECOB would do well to make up for the other stock does appear to be a long shot now !
It does appear that Alpha Capital Ansalt at one time late 2010 held ECOB 6,650,000 shares probably paid off with original MRL loan, also Chandran Capital Markets involved again as placement agent in return for shares!
Don’t think anyone can really dispute this type of financing credit terms are punitive ,certainly not very attractive as some suggest . Perhaps desperate times call for desperate measures !
Little chance this loan will be paid back in full late November as gross sales net margin on $1.7 million sales will not cover or get even close to the $1.08 million due ,also these projects only just starting it seems ! Eco need to pull another friendly investor out of the hat quickly otherwise major stock dilution will kick in if SP levels drops lower !
Eco have tried the PR /investor awareness /video /charity communication approach - $10 million cash burn obviously not enough to gain traction -or is the whole strategy flawed !- does the chemical protection really have any Unique Selling Point ? – MRL better be quick to find a buyer prepared to take the risk or they might not be majority shareholder for much longer !
Good luck with your new investments Gerry
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