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Message: Ron & BaNosser / Re: Ron on Goerner's Trust purchase... FYI..
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Mar 14, 2008 03:49PM

Mar 14, 2008 03:52PM

I agree with what you say regarding the difference between his trust purchasing vs. him purchasing directly, as I indicated to milestone earlier today, BUT, I do think it is misleading for the company to issue an e-mail alert stating

"CEO Rick Goerner Buys 100,000 Patriot Scientific Shares"

when in fact his trust, which presumably under the understanding you are advancing, is not under his control with respect to this purchase

As I noted to greeneyes earlier, I DO think that the Goerner trust's purchase is an important first step and I applaud it. I also encourage him and the BOD, at the earliest possible allowable time, to make significant purchases on the open market for their personal accounts. In doing so, they would make a significant statement, IN LINE with their representations that the market has undervalued PTSC. Without doing it, it appears they are only interested in convincing others to have confidence in what PTSC is and has done, and in turn assuming the risk. Certainly, it appears as though that's the broader market's interpretation of the company's insiders' relatively paltry holdings (extremely paltry when you take into account that they have had access to shares under 10 cents for a good portion of their directorships), and a large part of why PTSC trades at sub 40 cents. I think that the headline announcing "Goerner's Purchase" can be viewed as a misrepresentative statement, and the BOD/company playing loose with the facts rather than what it should be, a strong statement that could have been and can be reinforced significantly by the BOD taking strong action by taking positions in PTSC.

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