On more than one occassion, I've requested explanation from PTSC on how it can be sure that TPL/Alliacense is presenting PROPER and JUSTIFIED expenses to PDS. I know others have as well. Specifically, I asked in the context of those companies who have licensed both MMP and one of the other portfolios TPL represents. Each time, the company has refused to clarify or support that they are auditing the expenses in a way that would protect PDS and thus PTSC from paying for expenses related to other portfolios.
In light of the Greenarrays PR put out the other day, that I list below, it appears that concern in this regard is VERY warranted, and with history backing the concerns with previous questionable behavior from TPL, I'll ask that anyone in attendance the SHM, press the BOD on these issues. To date, PDS has paid over $47M in "EXPENSES" for MMP licensing. This is money that goes to Alliacense, and outside counsel for licensing and patenting efforts over nearly 5 years. If only $300K a quarter of that is attributable to other efforts, but billed to PDS by TPL, that would amount to nearly $6M in over billing, which equates to $3M MORE to PTSC in CASH. Money, that PTSC sure could use!
Flowers and The BOD need to answer to this issue IMO, and since they refuse to in writing, I hope someone can push the issue in person. TIA.
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Press Release
GreenArrays, Inc. Explains its connection with Technology Properties Limited (TPL).
INCLINE VILLAGE, Nevada – 19 Jan 2010 – GreenArrays, Inc., the developer of low energy, multi‐core computer chips and development tools, today announced that GreenArrays, Inc. does not now have, nor has it ever had, any connection with any part of the TPL Group.
GreenArrays, Inc. wishes to clarify that none of the GreenArrays corporate officers, employees or consultants are currently employed in any capacity by Technology Properties Limited (TPL) or by any of TPL’s business units, including IntellaSys.
On 15 January, 2009, the TPL group eliminated the positions of 18 employees, who had developed Chuck Moore’s SEAForth chips, from IntellaSys CEO Chet Brown on down. The TPL group websites continue to depict Chet Brown and YP Cheng as officers of IntellaSys, a false representation. Chuck Moore has never been employed by TPL, and he is shown as a TPL group officer. Chuck, Chet, and YP all requested the removal of their information from any TPL websites in August 2009. As of today, the TPL group websites remain unchanged.
GreenArrays, Inc. regrets any confusion caused by someone else’s representation of GreenArrays’ principals as employees of a non GreenArrays, Inc. company.
