"The Company is currently unable to repurchase Patriot shares in the market at this time due to the same blackout period that currently prevents insiders from stock transactions"

That is how you UNAMBIGUOUSLY and CLEARLY answer the questions posed by many here regarding the current share buyback status by the company.  I was amazed at how poorly and obscurely that Ken from Hawk responded to those e-mails that were posted here.  Investors should never have to "decipher" what the answer from the Investor Relations rep actually means when it's something as basic as this was.

IMO, JT & the BOD did a pretty good job in addressing most of the issues in the letter released today.  I do think it's unfortunate that they didn't release this letter with the 10q as it would have been proper to do so in light of the expectations that the company had set up by previous precedent.  Better late than never, though.  Personally, I do get the feeling from the letter that the adjectives used imply a moderate to good settlement, rather than a huge financial windfall.  Hopefully, April 10q will show the cards there.

Obviously not a whole lot said in the letter, but to me the most intersting line was:

"Management and the Board of Patriot feel that Patriot stock is currently undervalued, and we hope that our activities in the near future will lead to increased investor confidence that will be reflected in a higher share price. "

I hope that timing means next 2 months or so and that by "activities" they mean M&A or Exchange Listing issues.