The only experience which I have with this so-called CEO: A talker, not trustworthy and someone who even can not spell the word result.
Savage's so-called compensation committee prepared the next cheap options action, now advertised under a hot air headline "performance". The simple game of these self-service boys: "rewards for failure"'. Next step will be board options, and so on...
Meeting of stockholders is "expected " to take place in June 2009. No doubt if this waste is cleared out the share price will explode north
I have seen these situations before. The problem boils down to loss of faith such that even if there is some positive development, the investors head for the door at any opportunity which takes the wind out of any good news and suppresses the share price.
In EPCT, you have a lengthy history of dilutions, delays, and sweetheart back scratching option grants in spite of a failure to achieve meaningful results. That's a toxic history that investors are not soon to forget.
Looking at the CEO's bio, you have a no name guy with a lot of no name micro-crap bio experience pulling down 2 million bucks a year for nothing. Who's going to put serious money behind a guy with that resume and a BS degree who "completed coursework towards a MBA"? What kind of confidence does that instill? A guy who can't tough it out long enough to finish a degree?
I'm holding a tiny position, but I'm not optimistic, and unfortunately even a decent partner deal won't move this stock, the only fix is a management change.