Here we have a difference of opinion.... My take (with acknowledged ignorance of specific SEC rules) is that any reporting to be done would be done by PTSC as the effected corporate, accountable to the SEC, entity. S&L are only accountable to PTSC per their signed agreement. Yes, per that agreement and filing of that agreement, S&L are already max`d out at the 9.99% threshold. But, again, no where in that agreement/filing are specific share counts mentioned or even hinted at; only percentages of holdings. If there is no change to that holding percentage status, there should be absolutely no need to report - it`s already reported. Ergo, we wouldn`t have cause to know whether S&L had to sell some (due to PTSC buy-back) or not. And remember, the whole point in all of this discussion is to figure out if we can expect a derivative ``clue`` as to whether PTSC has initiated buy-backs.

As limerickhook suggests, the real clue may be being played out via recent trading activity. We`ve only bounced below a buck a couple of times, and rather quickly recovered.THAT may be our strongest evidence (assuming PTSC has a huge buy limit order in at $1.00 as I suggest), rendering the above discussion moot.

Another good chat...!

SGE