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Message: Re: NDA 's compliance with SEC rules...Bill...SEC filings

Jan 06, 2008 05:24PM
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Jan 06, 2008 09:15PM
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Jan 06, 2008 10:05PM
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Jan 06, 2008 10:34PM

Reading this board lately is like having a conversation with Sybill - 15 different thoughts going in 15 different directions. FWIW, my take, with the disclaimer, I am not an SEC filing expert. I am a CPA knowledgable  in financial statements and what goes into them. I did do a little research last night regarding 8k requirements.

As gcduck pointed out, we filed an 8k for the MEI/Toshiba settlement, but not for the NEC one. This puzzles me as what I have read indicates the ptsc should have filed an 8k for the NEC settlement for the simple fact that it was an end to litigation, regardless of the dollar amounts involved. I can only think that perhaps the settlement hasn't been officially finalized yet - has Judge Ward signed off? - or the 4 days hasn't expired since the sign off. Regardless, I am confident that ptsc is or will be filing whatever is required by the SEC. Not knowing the details of the settlement, there are probably 1000 possibilities as to why nothing has been filed for the NEC settlement yet. You can conjecture all you want - it is not because it is not material, it is. However, from what I read last night the 8k is required to be filed but not necessarily have details of the settlement. A brief description of the transaction is all that is required. So the fact that no numbers were included in the 8k means absolutely nothing. Argue all you want that they are required to put in numbers - that's not the case. Talk to a securities attorney or a knowledgable broker if you think this is wrong.

The next 10q will mention the settlement in the footnotes, however I wouldn't expect a lot of details/numbers/etc. The April 10q will have all of that, and I believe will have a copy of the agreements as an attachment, probably with various items x'd out. 

All IMO.

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