Scott:

Although I'd like to receive free PDP shares, I don't particularly see any reason for CLL to do this. Let me explain, PDP was sold off by CLL, as you've stated. CLL management is currently being paid to manage PDP and CLL is a minor shareholder.

Now as far as I, and possibly CLL are concerned, PDP is merely another of it's many assets and a source of revenue through management fees paid. The value of PDP is reflected in CLL SP ( that said that reflection has never really been fairly factored into CLL SP as proven by how little it was effected it when PDP was over $22) and being that PDP is also a high risk venture, I'd argue it's more valuable as collateral,a hedge and a source of revenue than anything else.

To carry it further, PDP is an independent company that happens to be managed by another companies management team. ( some may even argue it to be a conflict of interest as I'm pretty sure the decisions being made are designed to be advantageous to CLL). That being said, an independent company has no obligations to give anything free to shareholders in another company that happens to hold a minority position. Imagine the kaos that would ensue if every company in a similar arrangement were required to ( let's be clear here, you're talking about a redistribution of assets) give away shares every time a decision is made to dilute?

Let's turn this idea around..It would be safe to assume that the performance of CLL is reflected in PDP SP as the management is the same.There's many PDP shareholders that don't own any part in CLL..As majority owners in an independent company whose SP is influenced by CLL, should they not receive free shares in CLL as compensation every time CLL dilutes or assumes new debt?