Warrants of Swartz all are converted besides the 7mio, which will be bought back by Patriot until October, 2mio already done, equals 5mio warrants left, which don't effect the market anymore or better: didn't effect the shareprice since July 19th, the start of the warrant buyback-agreement!

Question now is: WHO sold since July 19th?

More than 11mio shares were sold/bought since then - I'm quite sure, this wasn't us (= normal shareholders). Why should they sell after the announcement of the warrant buyback, why should they sell before the 10K?

I only can see "normal" shareholders selling some shares this week after the poor pr regarding the 10k and the decreasing shareprice, thus then there is only one entity, who could have sold before = Swartz.

And exactly what you describe as "pohl gave swartz much more than they deserved" was the money Swartz wanted in order to sell his warrants and shares and leave Patriot alone - which is the best for Patriot's future at a different exchange.

The only but very strong proof for my theory are the numbers, which show the decreasing percentage of Swartz' ownership.

WHAT the reasons are for Swartz vanishing is up to speculation - my guess is a change from the pipe-investor to a strategic investor, but this is only IMHO, and a very speculative IMHO, because no new big shareholder showed up in the SEC-filings...

Nevertheless, if you read the words of Mr. Turley from the shareholder letter, it's obvious, he says 'good bye' to Swartz: "I'm grateful to them for the support they gave the company when times were bleak. Now that we're through that period, I felt it was time to retire any remaining obligations and put the final polish on our balance sheet." 

I'm sure, we'll see the solution in the next weeks/months.

GLTA