{"id":32729,"date":"2014-10-03T09:35:09","date_gmt":"2014-10-03T13:35:09","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=32729"},"modified":"2014-10-03T09:35:09","modified_gmt":"2014-10-03T13:35:09","slug":"echo-therapeutics-inc-nasdaqecte-implements-restructuring-practices-of-pricewaterhousecoopers","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/echo-therapeutics-inc-nasdaqecte-implements-restructuring-practices-of-pricewaterhousecoopers-32729","title":{"rendered":"Echo Therapeutics Inc (NASDAQ:ECTE) Implements Restructuring Practices of PricewaterhouseCoopers"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 10\/03\/2014 (wallstreetpr) \u2013 According to reports, <strong>Echo Therapeutics Inc (NASDAQ:ECTE)<\/strong> is looking forward to <a href=\"http:\/\/www.prnewswire.com\/news-releases\/echo-therapeutics-engages-pricewaterhousecoopers-restructuring-practice-to-explore-financial-and-strategic-alternatives-277941651.html\" target=\"_blank\">implementing<\/a> various restructuring practices used by PricewaterhouseCoopers in order to explore strategic and financial alternatives. It is a medical device company and known for its top-notched offerings in all over the country.<\/p>\n<p style=\"text-align: justify;\"><strong>Why ECTE wants to follow PwC:<\/strong><\/p>\n<p style=\"text-align: justify;\">Recently Echo Therapeutics Inc (NASDAQ:ECTE) announced that it had decided to take recovery and restructuring service practices of PwC. As per the information, it was looking to take PwC&#8217;s services as restructuring and financial consultant in order to explore financial and strategic alternatives for fulfilling its liquidity needs. A lot of strategic alternatives can be included in this series. For example, merger activities, sale of intellectual property and various other assets, capital transactions, business combination, a voluntary petition for reorganization, etc. There are many other alternatives as well that can be executed in case company finds them necessary.<\/p>\n<p style=\"text-align: justify;\">The decision of taking PwC&#8217;s services was taken after a difficult time that Echo Therapeutics Inc (NASDAQ:ECTE) faced last year. It was short of cash; hence, it had to make an announcement on September 23, 2014 in order to safeguard its resources. According to the announcement, it had decided to suspend its product development, manufacturing, research, clinical programs and operations. The main reason behind this suspension was company&#8217;s inability to spend cash on the above-mentioned programs due to lack of capital resources and liquidity. Due to the suspension of operational work, almost 70% of ECTE&#8217;s workforce had to lose its job. The only possibility that ECTE had in order to improve situation was a consistent third party funding for a very long period. It wanted to come up with any such financial or strategic alternative that could make it possible for Echo Therapeutics Inc (NASDAQ:ECTE) to get in touch with such organizations. When things started slipping out of the hands, then ECTE asked PwC to give it assistance and help in finding any such alternative.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 10\/03\/2014 (wallstreetpr) \u2013 According to reports, Echo Therapeutics Inc (NASDAQ:ECTE) is looking forward to implementing various restructuring practices used by PricewaterhouseCoopers in order [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":32730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[10087,2592,2593],"stock_ticker":[],"class_list":["post-32729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-echo-therapeutics-inc","tag-echo-therapeutics-inc-nasdaqecte","tag-nasdaqecte","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Echo Therapeutics Inc (NASDAQ:ECTE) Implements Restructuring Practices of PricewaterhouseCoopers - Wall Street PR<\/title>\n<meta name=\"robots\" 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