Because of increasing shareholder frustrations, between two and three months ago, I told the BoD that I would volunteer to be a "shareholder representative" on the BoD. I expressed, in light of the deteriorating financial and legal situation, it would be wise to include the shareholder perspective in future board decisions.
In my opinion, it would have been a shareholder friendly move, quitened things down for a while, and would have given the board the opportunity to spread the blame on "one of your shareholders is on the board" if failures continued.
I was surprised when they didn't jump at the chance. Instead, I received a "can't discuss it" voicemail from Cliff Flowers.
On July 19, 2010, a letter representing five major shareholders was sent to the BoD. This time, instead of a director or officer demonstrating the courtesy of a reply, they paid a high priced lawyer to respond "no". After this letter was posted here, millions of additional votes of support surfaced. To me, it is clear that the current directors are willing to shut out any opposition and use your money to maintain their seats and compensation.
After reviewing the sickening 10K that highlights the on going meltdown, I should thank the BoD for not accepting my proposal. What a mess.
I do not want to be a member of the BoD of Patriot Scientific Corporation. I thank all of you that supported me.
Believe me-I'm not going away.
Stan
