In the future, one way PTSC can avoid having undisclosed info keep them from buying back shares is to announce a regimen whereby they will be buying back shares on a regular and defined schedule. If pre-announced in that fashion, I don't believe the issue of undisclosed news / events comes into play any longer. Too late for now, but could've been done previously and left in place. Granted I understand it was stopped to preserve cash, so I'm not arguing whether they could be doing it now, just pointing out how they can do it in situations where the market is unaware of important material info.

As for preserving much needed cash, I agree, and that's why I stated I haven't been a proponent of a divy. HOWEVER, if there is significant money from the settlements in the coffers that would ALLOW a dividend, and STILL be able to do the M&A they want, considering the state of the share price, a deliberate strategy of dividend announcement followed by earnings announcement followed by M&A announcement IMO would provide short term value to the shareholders (through the dividend) that the company agrees they haven't been able to deliver even though they think the market should recognize it, AND provide sustained support through the good news after good news after good news deliberate strategy.

As patient as we've been and as positive as we AND the company think events have been, the fact is the value is NOT being provided back to the shareholders, so the company has a responsiblity to find ways to do so IF THEY HAVE THE CASH to do so AND execute on the larger business plan. That's all I'm pointing out.

If on the other hand they DON'T have the cash, then perhaps their representations that the market is undervaluing the company are incorrect. I am basing my comments on what JT & the BOD/Executive Committee have represented in the shareholder letters and SHM comments regarding the market's valuation of the company.