"ptsc could go straight to the source (S&L) and purchase all of his remaining shares in a private purchase and not on the open market"

Then certain shareholdersd would be screaming that we were giving s&l preferential treatment by buying his shares at a premium. Damned if you do, damned if you don't.

"would s&l agree to this? probably not...but the BOD could have written this in when they dumped the treasury to s&l via the dividends"

And why would s&l agree to something like this. Do you know aht they would demand to sign off on something like this? Neither do I. But I seem to remember 7 million of warrants being given for a previous concession on S&L's part. S&L doesn't give anything away. You know that.