TORONTO, ON--(Marketwired - Jul 8, 2014) - Easton Pharmaceuticals (OTC: EAPH) announces corporate response to libelous seeking alpha article.
As a response to a second seeking alpha written by a Mr. Matt Finston, Easton Pharmaceuticals has entered in discussions to join with 1 to 2 other companies in a joint legal response to Matt Finston and articles written and posted by him on seeking alpha against Easton Pharmaceuticals and these other companys.
As disclosed in a prior press release, Easton Pharmaceuticals was the victim of a slanderous article by a Matt Finston of seeking alpha posted in March of 2014. It has now come to the company's attention that a second article attacking the company was once again posted today. The writer, Mr. Matt Finston and seeking alpha who normally only post or write on mid to large cap stocks, posted an article on the Company that was not only once again inaccurate, but made libelous allegations against its products and others involved in the company. The second article on Easton Pharmaceuticals, released this morning has once again been released after a recent uptrend in the companies trading stock. Both times the articles were followed by massive short or negative posts on many investor chat boards in an attempt to dis-credit the company. The most recent article goes to great lengths to cause as much damage as possible to the company which is thought by the company's attorney as well as by others to be out of the ordinary. As a response to this clear attempt to hurt shareholders and the companies attempt to grow its business, Easton believes it will soon join with other companies who have either sued Mr. Finston as a response to similar attacks or are in the process of launching lawsuits. Mr. Finston has not only repeatedly stated the incorrect cash position of the company, the wrong names for the company's directors, but has also posted the wrong names of products or posted that the company still owns products that were previously sold. Other information was also mentioned in the article including allegations that the company has been involved with other websites to promote the company's common stock which is vehemently denied by the company. This is a clear attempt to purposely provide mis-leading and libelous information in an attempt to assist in possibly shorting the company's common stock by any means necessary. Through its attorneys, Easton Pharmaceuticals will make every attempt to defend itself against these types of attacks.
To clarify and correct the deliberate mis-statements made by Mr. Finston, Currently Easton Pharmaceuticals owns or co-owns products, patents or patents pending regarding its delivery system, some of which are incorporated into several OTC products and Drugs it co-owns. Included is a drug co-owned with a private Canadian pharmaceutical company for the treatment of FSAD (female sexual arousal disorder) which previously underwent testing at Cedar Sinai Medical Center in Beverly Hills, CA. The testing program was prematurely halted but was not as a result of lack of efficacy. Easton Pharmaceuticals originally owned an FDA drug to help treat wounds, known as the L.A.M. IPM Wound Gel. This product was approved by the FDA and deemed by the FDA to be 88% effective in treating wounds. In 2009, previous management made the decision to sell the IPM Wound gel and focus on other products such as Viorra. Although delays have been met by the company in the last 2 to 3 years and the product Viorra has been progressing more slowly than expected due to various reasons including the company's entrance into the medical marijuana industry, Viorra and other products are close to being made available for sale and purchase, notwithstanding any unforeseen impediments.
Through the assistance of consultants and its Philadelphia based attorney, Easton previously signed LOI's and were in negotiations for various medical marijuana initiatives in the State Of Colorado and other states. The Colorado initiatives have since been abandoned for various reasons including the fact medical marijuana is still federally illegal which would cause legal issues for a public company who is involved in growops. Instead, the Company, as previously announced, has signed an exclusive option agreement to purchase up to 50% ownership in a private Canadian Medical Marijuana Company that is near completing its facilities build-out and awaiting its final inspection with health Canada to obtain a growers license for the entire country of Canada. Currently only 13 companies have obtained growers licenses and only 48 have received letters to build.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors that owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues related towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company is also endeavoring to enter other potentially lucrative industries such as medical marijuana. The company's gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals' product "VIORRA" is an over-the-counter, topical daily use product and aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a positive effect on women's sexual desire and arousal, FSAD (Female Sexual Arousal Disorder); the world market for these female conditions is conservatively estimated to be in the billions.
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This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.