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Echo Therapeutics, Inc. Message Board

  • arthd_00 arthd_00 May 10, 2013 11:25 AM Flag

    I'm not pleased, time to put heat on management

    I've een a shareholder for over a year and a half, (thanks to the enthusiasm of Patrick Cox - Breakthrough Technology) with a suibstantial loss. I'm now egining to wonder if we have the right management in place. They MAY know medicine, but do they know how to take the science and create shareholder values? So far, it looks like theyhmay need help.

    I also question the big salaries. We're paying these guys "on the come" and it ain't coming. I suggest they cut salaries accross the board until they accomplish something that the market-place thinks is of significance.

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    • Brand new technology takes time, it will be just fine. Sounds like they have been having trouble getting test subjects for trials. The device works, trials are a mere formality. Wait until a year from now and see what the share price is doing.

      Sentiment: Strong Buy

      • 1 Reply to mojorizin69
      • lnsideoutsideupsidedown lnsideoutsideupsidedown May 10, 2013 12:12 PM Flag

        Share price matters to keep investors loyal investors. It also matters when you must tap the equity markets. If Echo dilutes at this level they are performing a significant injustice to existing shareholders.

        Echo last year received a credit line from Platinum that they claimed would take them through trials, then they turned around in short order and negotiated back to back financings each well below the recent share price and both at new 52 week lows. Now they are in a position they'll have to finance again and they have checked of no milestones to show value for the financing. I don't believe they've explained their financing change in direction not the need for two back to back financings. Management has destroyed shareholder value with their recent missteps. The product may be good and it may succeed, but management is not doing their job with maximizing shareholder value and they cannot be trusted with their statements. Shareholders should be demanding for someone new to take control.

 
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