It makes sense and what can we do about it at this stage?
TPL sold an MMP license to Apple a 300 billion dollar
company and PTSC got something like a few hundred thousand that is nearly certainly a fact. Moore in his complaint against TPL cited that commingled license only identifying AAPL as a "major
silicon valley electronics and cell phone company" which fits the description of about 1 company we all know. PTSC in the master agreement allowed TPL to negotiate all licenses and the license with
AAPL cannot be renegotiated. PTSC can try to sue TPL for the money but I think it will be hard to prove anything at the end of the day. TPL as a
private company could have hidden money offshore very easily. Our board was actually foolish enough to loan him money twice and to try and starve us he tried to blow off paying it back! Basically Lecrone has such complete contempt for PTSC and the oversight of the "forensic accountant" and ever vigilant board of directors he assumed they would do nothing. I mean what does the board really have at stake? They own almost no shares and PTSC is essentially a part time job one of many boards they all serve on. Cliff Flowers the
CEO/CFO obviously has no interest in promoting the company and thinks addressing shareholders 1-2 times a year is sufficient. These people are scum. Cant we vote them out? I though we had passed majority voting. I hope the company is still around next year so I can vote them out. The BOD and CEO/CFO completely crap on
shareholders IMO .
