PTSC previously reported that Relational Advisors told the company that it represents TPL, Daniel Leckrone and Charles Moore in their effort to obtain PTSC ownership of patents (US5809336, 6598148, 5440749, 5604915, 5530890, 5784584 and 5659703). The $7.5 million offer included a royalty-sharing scheme deemed inadequate for the intellectual property held by PTSC, which has value estimations in excess of $1 billion. To clarify, Relational Advisors simply communicated the offer to PTSC in its capacity as financial advisor to TPL.

That was in November 2004, before the joint venture and subsequent licensing. I therefore humbly suggest that this talk of any takeover for $1 or $2 per share is not only laughable, but has no basis in fact.

Be well