This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Platinum-Montaur Announces Proposal To Reverse The Destruction Of Shareholder Value At Echo Therapeutics, Inc.

Platinum urges the Board to quickly work through the proposal and stands ready to assist in any way it can.  It believes that the Company has a potentially transformative product in the CGM Technology that needs to be developed without further waste of time and money.  The Board must show the market that it is no longer business as usual at Echo.  As the letter to the Board makes clear, Platinum's proposal expires at 5 PM on Wednesday, September 4, 2013 unless accepted by the Board before then.  If the Board once again lets another prime opportunity go by, Platinum reserves all it rights to take further action.

Letter to the Board

August 30, 2013

Board of DirectorsEcho Therapeutics, Inc.8 Penn Center1628 JFK Boulevard, Suite 300 Philadelphia, PA  19103


I write to you on behalf of Platinum-Montaur Life Sciences, LLC and our affiliated funds, beneficial holders of approximately 20% percent of the common stock of Echo Therapeutics, Inc. (the "Company" or "Echo").  For many months now we have attempted to have a constructive dialog with the Board of Directors of Echo (the "Board") and its former CEO who was recently and summarily terminated.  Not once in our numerous discussions has a director or executive of Echo acknowledged the Company's free-fall and their role in it.  Do the people in Echo's c-suite and Board room not recognize the judgment that the investing public is rendering on their leadership and oversight when the stock price plummets approximately 95% in the past two years while the NASDAQ has increased approximately 40%?   To this day we are still waiting for the Company's leadership to assuage the market's deepest concerns and publicly announce a plausible and immediate strategy for turning Echo around and unlocking its awesome potential.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 -1.04%
FB $118.06 0.54%
GOOG $695.70 0.48%
TSLA $222.56 -4.20%
YHOO $36.00 -0.03%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs