You have to be aware, that at the time Swartz gave the 55mio$ to PTSC (30mio in May 2000 and 25mio in September 2001 - I showed it in one of my posts, here from one of the filings from this time: "$30 Million Equity Line of Credit Agreement - In May 2000, we entered into an investment agreement with Swartz." "$25 Million Equity Line of Credit Agreement - On September 17, 2001, we entered into an investment agreement with Swartz.")

the pricing for the shares and the warrants was COMPLETELY DIFFERENT!!!

At this time the shares/warrants were not only sold for Cents, but some of it for DOLLARS (I go running now and can show you the parts of these agreements later, if you are interested).

So far I was not able to calculate the absolute average price of Swartz' shares/warrants over the last decade, but I guess, this average price is NOT in the low Cent range.

GLTY