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Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.

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Message: Re: "Bonus Payments" LOL, is that what you're calling it now ?Biajj
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Jul 01, 2009 06:20AM

I just don't know how we can now try to go back to 2005 and judge the people involved with the agreement and critique how much compensation they recieved. At a time when there was a lot of pressure on PTSC to make an agreement with TPL and Moore, so that money could start coming in from somwhere to keep the lights on and pay the bills. After all the Ignite chip wasn't exactly flying off the shelf. I don't pretend to be knowledgeable about the agreement as this is not my field of expertise, but what had to be done to make the agreement was and is done. And in my view so far TPL appears to be living up to the agreement as PTSC has seen substantial revenues fill the bank with very little work output by PTSC. I quite frankly have been impressed with TPL's ability to negotiate and nail down any licenses in light of the impact that the USPTO reexamination has had on their abilities to pursue licenses at decent levels. I hardly see how anyone of us can complain about potential lopsided agreements, when PTSC does very little and TPL basicly does all the work and has the responsibility to license the MMP?

Now I can see fault in the way some of the revenue was handled by PTSC mainly in dividend distribution.

And I agree that the BOD and management are well compensated for considering they have had very little impact towards the bottom line other than stumbling on the MMP and being smart enough to make an agreement with TPL to do the work. But unfortunately that is reality for executives at companies these days. In my view this next couple of years we need to see some results of the work that RG and the BOD has done in sales of PDSG products. We should also see some closure to the USPTO process hopefully in PTSC's favor. Things should get interesting in the next year or two.

So in my view beating up the agreement at this time is not very fair or productive. As far as executive compensation is concerned, I can understand that putting pressure on the BOD and PTSC management, that investors are watching and paying attention could be important right now and ultimately in a year or two if they show very little results towards the bottom line that some people need to be held accountable. But because federal funding has only recently become available for government agencies to make improvements that could require the PDSG products, in my opinion these people need to be given a little more time. I think some underestimate how difficult a task it can be and how long it can take to create a company with a new product base, market it and sell it especially if government agencies are some of the customers. We've all been here for so long waiting for this to bloom and I know it's hard to be patient. But I thinkk that is what's required right now. The baits in the water we just need to start landing some fish.

All the best,

Steve

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