Patriot Scientific

We can complain all we want about replacing the BOD, and I’m just as guilty as you are. The biggest problem facing the new CEO, and hopefully the replacement of “The Three Amigos” (Directors) is not having any control of the revenue to PTSC. As you know our only true revenue now is controlled buy PDS. Remember, TPL/Alliacense/ PDS controls all proceeds that come in, and what goes out. When you have a situation where the Management Committee of PDS consists of Three members, Two from TPL, and One from PTSC, and then has this statement in the TPL/PTSC agreement: “Quorum of Two (2) managers must be present at a meeting of the Management Committee to establish a quorum for the transaction of business. (Majority Vote) All actions to be taken by the Management Committee shall require the affirmative vote of at least Two (2) of the Three (3) managers.” (Game, Set, Match) As you can see PTSC has lost all control of our revenue stream, and until PTSC can control their own revenue we can change all the employees, and the BOD we want, but the problem still remains. We need a full investigation of TPL/Alliances/PDS books, and file a lawsuit if we find any discrepancy’s outside the agreement between PTSC/TPL. What has always bothered me is that if you where to look back in time at the beginning of PDS our revenue stream has diminished over to where now Alliacense is practically giving the licenses away, or are they? Only a full audit of TPL/ Alliacense/and PDS will get to the bottom of this.

wolfpackvolt

Very good post IMO. We all know this, but forget about it as we get caught up in recent news and debates. So, rather than focus on changeing out the board, is their a way to force the current board to address this issue (full audit/disclosure of TPL/Alliacense/PDS)? Yes, replacing the BoD may accelerate this, but is there another way to make this happen? TIA

Good luck everyone?