If you really want to understand how accurate Brian's CYA post really was.
The "pr" from the company basically said nothing of substance as far as I am concerned but truly was a CYA statment. Now if they had posted a PR with the following .......
If it had commented on the TPL Bk proceedings and how the ptsc board of directors was now going to actively support the appointment of an independent receiver. That this would be in the best interest of all creditors and would by reinvigorating the licensing of the MMP without having to pay the outrageous fees to the Leckrones at the same time. Therefore if the PR had stated that the resources of PTSc would be used to actively pursue this course of action then I would have been impressed.
If the board had announced a massive buy back (as Brian suggested) then I would have been impressed. Less then 2 million shares is nothing in cost nor a significant dent in os shares.
To those who have commented on the revelation that FINALLY the board maybe be looking to fill the 3rd seat on the PDS panel. I ask what took them so long? Now that a few years have passed, our share price has plummeted and the Leckrones have suckered us with the help of at least one member of the PTSC board on at the very least one license deal.... Apple.... Do I trust them to get an truly independent third party... not really .... do I believe that we should have a truly independent 3rd party fill that seat? No actually I do not.... at this point with what we know about the shenanigans of DL and with compliance from Carl J.
I would like to see the third seat filled by a shareholder who does not carry water for our Board of Directors or the Leckrones but is truly a Shareholder representative.... and yes Brian, Laurie, Ron, Kidd etc would fill that bill. It will be telling to me that if and when they fill that seat who the person is they appoint.
Would it not have been appropriate at this time to tell us that the Board was going to institute a few of the provisions that stated that if TPL fails to perform financially we can separate from them? Nope did not see that in the PR.
Finally I would like to point out to those who feel that Carl J had made a substantial investment in purchasing shares in PTSC at ten cents or less that besides the million plus he has taken out of PTSC I seem to recall that he was placed on the PTSC Board by Mr. Swartz.
As a Swartz rep. I believe or would think that he receives compensation or has from Mr. Swartz by being his voice not only at PTSC but at other Swartz directed companies. If I am correct a the actual cost percentage wise to Carl J. for his shares in Patriot is far less then then the 5% of his comp that he received directly from Patriot. I believe it is IMO appropriate to count any and all compensation he has rec'd from Mr. Swartz.... a total we will I am sure never know.
The preceding was all IMO and some of which was speculation but most of which is factual.
