0001654954-17-003544.txt : 20170421 0001654954-17-003544.hdr.sgml : 20170421 20170421151833 ACCESSION NUMBER: 0001654954-17-003544 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170421 ITEM INFORMATION: Other Events FILED AS OF DATE: 20170421 DATE AS OF CHANGE: 20170421 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Echo Therapeutics, Inc. CENTRAL INDEX KEY: 0001031927 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 411649949 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35218 FILM NUMBER: 17775416 BUSINESS ADDRESS: STREET 1: 99 WOOD AVENUE SOUTH STREET 2: SUITE 302 CITY: ISELIN STATE: NJ ZIP: 08830 BUSINESS PHONE: 732-549-0919 MAIL ADDRESS: STREET 1: 99 WOOD AVENUE SOUTH STREET 2: SUITE 302 CITY: ISELIN STATE: NJ ZIP: 08830 FORMER COMPANY: FORMER CONFORMED NAME: SONTRA MEDICAL CORP DATE OF NAME CHANGE: 20020702 FORMER COMPANY: FORMER CONFORMED NAME: CHOICETEL COMMUNICATIONS INC/MN/ DATE OF NAME CHANGE: 20020701 FORMER COMPANY: FORMER CONFORMED NAME: SONTRA MEDICAL CORP DATE OF NAME CHANGE: 20020701 8-K 1 ecte8k_apr212017.htm PRIMARY DOCUMENT SEC Connect

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 21, 2017
 
 
Echo Therapeutics, Inc.
 (Exact name of Company as specified in its charter)
 

 


Delaware

001-35218

41-1649949
(State or other jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)


99 Wood Avenue South., Suite 302
Iselin, NJ


08830
(Address of principal executive offices)

(Zip Code)
 
Company’s telephone number, including area code: (732) 201-4189
 
 (Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions (see General Instruction A.2. below):
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 8.01 
Other Events.
 
As previously reported, due to the financial condition of Echo Therapeutics, Inc. (the “Company”), the Company was unable to make payment on $1,787,000 of the 10% senior secured convertible notes of the Company due on January 28, 2017 (the “January Notes”). An additional $3,361,620 in principal amount of 10% senior secured convertible notes of the Company matures on May 3, 2017 (the “May Notes” and together with the January Notes, the “Notes”). The Company has been engaged in prolonged discussions to obtain new financing and obtain appropriate forbearance and/or waivers from the investors holding Notes. To date, the Company has been unsuccessful in raising financing and, while the Investors have not taken any action against the Company, the Company has not yet received any formal forbearance and/or waiver from the Investors. The Company has been forced to reduce its staff down to one employee, Alan Schoenbart, the Company’s Chief Executive and Chief Financial Officer, who has been working without pay. Further, the Company has been unable to pay rent at its corporate and research facilities, which will more than likely result shortly in eviction proceedings. Additionally, the Company’s patents are at risk. While the Company continues to pursue financing, there can be no assurance that it will be able to do so on acceptable terms or at all, which may result in foreclosure upon the assets of the Company by the Investors.
 
 
 
 

SIGNATURES
 
              Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
                                                                                    
 
ECHO THERAPEUTICS, INC.
 
 
Dated: April 21, 2017
By: /s/ Alan W. Schoenbart
 
Alan W. Schoenbart
 
 
Chief Executive Officer