significant implications based on our largest investors own personal thoughts. Did we in fact "win" in the EDOT? We appear to be much closer to the teens than we are to the dollar. Since so many here like to read between the lines how about dissecting something that was actually said. We have several well respected investors on this board who claim to have heard Mr. Swartz utter at the SHM, "if we win we could see $1-$4 S/P but, if we lose we could also see the teens" or something to that affect. So that begs the simple question, did we win? It's funny to me that so many want to believe so badly that there must be more to this yet, when we've received upfront information most turn away from it. This is now the second time our CEO has gone out of his way to imply that all settlement money has been received, yet no one believes him. Well based on Mr. Swartz's own admission it would appear that our S/P is reflecting the less positive outcome that he elluded to. The CEO is saying that's it and the S/P is closer to Swartz's lower prediction so why continue creating all these convoluted and misleading theories?
I can't keep hanging my hat on all this Cloke and Dagger garbage. If the company is in fact misleading everyone, than how in the hell could any of us feel safe about continuing to hold our investment? The reference by some to Mr. Turleys famous, "patent on water" remark appears to have been grossly over estimated. Certainly the patents are of value but perhaps that value is of more earthly increments than some of the absurd figures thrown around here over the last few years.
One other thing, Mr. Goerner gave , imo, some very important incite into how a more experienced mgmt team would have handled Patriot's funds when he said the following:
"It is unusual for emerging technology companies to pay dividends as they generally retain earnings to grow their businesses by funding future product R&D and expanding marketing and sales efforts. It is our plan to move the company in that direction."
This statement alone should scare the heck out of all of us and really make you question whats been going on the last 2 years. I would like to take this moment to thank Mr. Swartz for personally draining our capital. As I said from the first dividend issued, this could not have been the result of an experienced mgmt team, only a financier would be looking for such a payout. Anyone running an upstart or micro-cap company would have locked that cash behind a 2' wall of steel. All IMO.
