Recently, the oldest bat fossil to date has been found in Wyoming.

http://www.guardian.co.uk/science/2008/feb/13/bat.evolution?gusrc=rss&feed=science

This bat did not fly by echolocation.

Why does the validity of the whole theory of evolution seem to hinge for you on the discovery of one transitional fossil? Does this mean you think you can now claim the ToE invalid because of the absence of another transitional -- until one is found -- ad infinitum?