Click here to close now.

SYS-CON MEDIA Authors: Carmen Gonzalez, Liz McMillan, Jon McNeill, Elizabeth White, Pat Romanski

News Feed Item

Easton Pharmaceuticals Finalizing Investment Terms in Private Medical Marijuana Device Company; Moves to Initiate Legal Action Against Libelous Seeking Alpha Article

TORONTO, ON -- (Marketwired) -- 06/25/14 -- Easton Pharmaceuticals Inc. (OTC: EAPH) is near final agreement with a medical marijuana technology company specializing in controlled environment agricultural technologies.

Easton Pharmaceuticals, following due diligence, is moving towards investing in medical marijuana device technology and agricultural product. The investment objective manufactures products designed to ensure that medical marijuana cultivation, bottling, edibility, extract manufacturing and dispensaries maintain the highest quality of food safety standards for antimicrobial and bacteria free facilities. Easton's management believes this great investment opportunity will meet strong industry demand and generate positive revenues which will be highlighted in greater detail following a closing agreement. This investment coincides with the company's over-the-counter delivery technology products including Viorra, a non-invasive topical treatment intended to assist women suffering from a range of Female Sexual Arousal Disorders (FSAD).

Easton, in addition to Viorra, maintains a minority ownership in the early stage cancer drug Xilive which is near finalizing on a deal to have this position vastly increased due to positive responses from patent attorneys. Added to these products and initiatives is a 50% ownership in the early stage drug for the treatment of female sexual arousal disorder. The company's medical marijuana initiatives alongside Viorra are deemed to be the best short term options as excellent potential revenue producers. Easton still maintains discussions with third party partners to open a medical marijuana dispensary(s) in certain counties and jurisdictions within the State of Michigan.

An update to Easton's medical marijuana grower's license initiative within the country of Canada is anticipated to be the company's upcoming announcement.

In other developments, Easton Pharmaceuticals is moving towards taking action against libelous statements made by multiple online sources, in particular Seeking Alpha. The article published March 18, 2014 was written by a Matt Finston who made inaccurate and libelous statements attacking Easton's trading stock. Easton is now taking action against Finston after the company's progress on its medical marijuana initiatives and its wholehearted attempt to give Mr. Finston the benefit of the doubt prior to legal action to allow a retraction of certain statements proved fruitless. The article makes several false and misleading statements about Easton, its product line and history as well as allegations that the company was part of a pump and dump scheme a year earlier which are completely false and libelous. Easton Pharmaceuticals has retained counsel to pursue to the fullest extent of the law Mr. Finston and anyone who affiliated with, encouraged or directed his assignment. Mr. Finston's libelous article has damaged the company with not only market cap but with discussions it was having with other third parties.

Easton's management contacted Mr. Finston about misstating that the company tried to sell Viorra in 1998 when, in actuality, the product's acquisition date was 2009. This writer then changed only the date but made no retraction of any type nor any attempted apologies for the grievous mistake. Mr. Finston then alleged that Easton issued restricted shares a year prior for the purpose of planning a pump and dump with Global links. Management has never issued any shares for pump and dump schemes and it should be noted that those shares belonged to a senior consultant by the name of Mr. Neil Mellor, have yet to be and will never be deposited due to a conflict of interest with Mr. Mellor and his company. This was a defamatory statement which was supposed to be retracted once facts, other inaccuracies and judgments were made clear. This has not happened. Mr. Finston also stated the company was unavailable for comment even though no calls were received. Since his article, Easton has made several requests for Mr. Finston to contact and speak with Easton's management and consultants. However, he has refused to respond to all phone call requests, thus contradicting his own statements. The article's release was at or near the company's peak common stock price, which was followed by countless negative and defamatory postings on several web investor portals namely Investorhub, which continue to this day.

Carla Pepe, CEO of Easton Pharmaceuticals, stated: "We are currently exploring all of our legal options for relief. In addition we believe this to be part of a larger orchestrated effort to short Easton Pharmaceuticals stock so individuals can illegally profit from the company's decline. The company is not against the practice of shorting stocks, but is vehemently against anyone posting inaccurate and defamatory statements to achieve their goals. We are in the process of alerting the regulatory bodies about the events and have instructed counsel to take action against Mr. Finston and any others involved. Our company is doing its utmost to grow its business and enter into certain business segments that can ultimately allow the company to be successful and positive revenue generating. We believe we have a tremendous opportunity ahead in the medical cannabis sector coinciding with our other products and businesses. We remain dedicated to executing our business plan and look forward to updating investors on new and potentially significant milestones for the company as the quarter and first half of the year comes to a close later this month."

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.

For More Information Visit:
http://www.eastonpharmaceuticalsinc.com

Safe Harbor

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. There are no guarantees or assurances that any proposals, initiatives or negotiations will result in what the company had originally intended. 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of present...
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along...
The cloud is now a fact of life but generating recurring revenues that are driven by solutions and services on a consumption model have been hard to implement, until now. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, will discuss how a top European telco has leveraged the innovative recurring revenue generating capability of the consumption cloud to enable a unique cloud monetization mod...
FedRAMP is mandatory for government cloud deployments and businesses need to comply in order to provide services for federal engagements. In his session at 16th Cloud Expo, Abel Sussman, Director for Coalfire Public Sector practice, will review the Federal Risk and Authorization Management Program (FedRAMP) process and provide advice on overcoming common compliance obstacles.
Red Hat has launched the Red Hat Cloud Innovation Practice, a new global team of experts that will assist companies with more quickly on-ramping to the cloud. They will do this by providing solutions and services such as validated designs with reference architectures and agile methodology consulting, training, and support. The Red Hat Cloud Innovation Practice is born out of the integration of technology and engineering expertise gained through the company’s 2014 acquisitions of leading Ceph s...
Are your applications getting in the way of your business strategy? It’s time to rethink your IT approach. In his session at 16th Cloud Expo, Madhukar Kumar, Vice President, Product Management at Liaison Technologies, will discuss a new data-centric approach to IT that allows your data, not applications, to inform business strategy. By moving away from an application-centric IT model where data integration and analysis are subservient to the constraints of applications, your organization will b...
As organizations shift toward IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection &E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 16th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships, will disc...
Cloud data governance was previously an avoided function when cloud deployments were relatively small. With the rapid adoption in public cloud – both rogue and sanctioned, it’s not uncommon to find regulated data dumped into public cloud and unprotected. This is why enterprises and cloud providers alike need to embrace a cloud data governance function and map policies, processes and technology controls accordingly. In her session at 15th Cloud Expo, Evelyn de Souza, Data Privacy and Compliance...
Analytics is the foundation of smart data and now, with the ability to run Hadoop directly on smart storage systems like Cloudian HyperStore, enterprises will gain huge business advantages in terms of scalability, efficiency and cost savings as they move closer to realizing the potential of the Internet of Things. In his session at 16th Cloud Expo, Paul Turner, technology evangelist and CMO at Cloudian, Inc., will discuss the revolutionary notion that the storage world is transitioning from me...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, will demonstrate the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He will discuss from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT ...
Cloud data governance was previously an avoided function when cloud deployments were relatively small. With the rapid adoption in public cloud – both rogue and sanctioned, it’s not uncommon to find regulated data dumped into public cloud and unprotected. This is why enterprises and cloud providers alike need to embrace a cloud data governance function and map policies, processes and technology controls accordingly. In her session at 15th Cloud Expo, Evelyn de Souza, Data Privacy and Compliance...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, will analyze a range of cloud offerings (IaaS, PaaS, SaaS) and discuss the benefits/challenges of migrating to each of...
Platform-as-a-Service (PaaS) is a technology designed to make DevOps easier and allow developers to focus on application development. The PaaS takes care of provisioning, scaling, HA, and other cloud management aspects. Apache Stratos is a PaaS codebase developed in Apache and designed to create a highly productive developer environment while also supporting powerful deployment options. Integration with the Docker platform, CoreOS Linux distribution, and Kubernetes container management system ...