Started slightly late because our board couldn't figure out how the on off switch on there mic. worked. Approx. 40 people attended, plus 5-7 employees. 295,145,289 or 72.66% voted by proxy. Meeting adjourned at 10:06 . Q.& A. started. Stan Caplan said, on Nov 2011 he proposed a plan to improve relations w/board and S.H's w/ transparancy w/ implementation of 7 points Asked if he could get answers to 7 points. 1. No more virtual meetings. Ans. NO. #2. no more investments. NO. #3. Return to dividends YES. #4.Reduction of board pay. NO. #5 (missed). 6 Directors buy 100,000 Shares. NO. #7. Missed. Wolf asked for Brian,what does PTSC look like in the future? Ans. Flowers, he understands our frustration but can't comment on future w/o knowing litigation, future income, future litigation. Mark Spora asked Business strategy going forward? And whether the board was embarrassed for their income as a result of what has occurred in the past? Flowers answered he worked hard for his salary, $292,000. Shaboom(Roy) asked, On what date was the meeting of the Board which determined that the approved Shareholder Proposal regarding"majority vote" would not be implemented. Flowers answered the Board never accepted the vote, it was always Non-binding. Q. why did it take 10 months to let us know? Ans. It was always non-binding. Daniel Krone asked, how will we know if PTL is above board w/ license? Flowers said Procedure-review- guidelines, can't say any more. He said he was satisfied it wont occur any more. Sounded like "Trust Me". SURE. Larry asked If a disagreement w/ TPL occurs what happens? Ans. TPL agreed to increase review. Roy commented, why wasn't it that way to begin with. Asked about ownership of stock, Gloria said she owned 800,000 shares. Johnson said he has exercised 8-10 options and never sold any shares. Flowers said they were trying to sell PDSG. Johnson said hearing w/ Judge Ware "went very well". Dan Leckrone said he owned 3 million shares. He was asked about bundling portfolios? He replied he never agreed to not sell other portfolios. Said less than 5 portfolios were mixed of the 90 sold. Leckrone said the MMP has had 17 re-examinations and won them all. Cost of $13-$15 million. 6000 pieces of prior art defeated. Licensing team has 100 ongoing negotiations going on right now. Q. If we win Markman will we go to trial or continue as we have in the past of just signing. Lechrone said suing is a crap shoot. Would like to avoid. Q what about Apple? Ans. Not allowed to talk about it.
