I only skimmed the 10k and I'm no accountant, but based on the burn rate over the stated time frame, it appears that PTSC has about 1 - 1.5 years of life remaining. A few routine (i.e., nuisance value) licensing deals might possibly extend that a bit.
Frankly, I don't think about PTSC too much these days and usually just try to read the board here on Mondays and Fridays. But when I do, it usually crosses my mind as to whether Mr. Flowers intends to fully retire or whether he will be looking for another high-named corporate job after he and his comrades have bled the Company dry. If the latter, I'd be interested to see his job application (if he is required to submit one, rather than just getting a job from someone he knows). How does one successfully pull off spinning the fact that, while at the helm for some 8 - 10 years (albeit as "interim" CEO, possibly the longest interval ever known in the industry for such an executive position), the value of the Company has progressively decreased by what must be 99+%? I've seen some "wonky" resumes` over the years, but that one just might take the cake.
