Unreal discussion again. I have been involved since 1995. PTSC changed drastically the day they merged the MMP with TPL. You can paint this picture anyway you want but the reality of the situation (IMO) is that the BOD made a series of decisions that have crippled PTSC. The BOD chose to eliminate all engineering staff, shelve all our ongoing projects and turn complete control of the MMP over to TPL. The BOD turned PTSC into a shell dependent on TPL. The BOD turned PTSC into an employeeless company (until RG came aboard).

The BOD assumed that revenue from MMP alone would be "a cash cow......patents on water"....these were their statements. The BOD made the decision to payoff S&L with dividends....could they have done this differently? Yes (IMO)....they could have offered a buyout, a structured payoff that would not have crippled PTSC and still allowed S&L to reap gains from a growing stock price. The BOD decision was not a decision to keep PTSC afloat and ease S&L out, it was the dumping of the treasury into the pockets of its financier, who has way too many ties to the current and past BOD.

The new office is a perfect example of BOD stupidity. Big new office with no employees. All illusion and no substance. Restating financial statements by a company with only 1 source of revenue and no real expenses. Hiring PR firms and never using them. I could go on but there is no point if you choose to believe the BOD is a competent bunch. They have done absolutely nothing IMO to enhance PTSC.....they have rewarded themselves for doing nothing other than sitting on the Board of an OTC company.

The BOD hired (IMO) a competent CEO only because their "game plan" of letting TPL do the work while they sit at home and collect BOD compensation and expense allowances was collapsing. The J3 settlement was a watershed moment and we still really do not know what the heck happened. PTSC shot up to 90 cents on that news and immediately retraced after the details of the settlement were known to the "inside group". I have no idea who the inside group is....but it wasnt the public.....we still do not know the terms....but the stock continued to dive to its current levels regardless of new MMP licensing.

To defend a BOD, whose core group still remain intact, which gained their BOD positions only because of their ties and not for their ability to lead is mind numbing. They have been the problem from day 1 and are still the problem today. There is no credibility and no proven track of success with this BOD. Change the makeup of the BOD and I do believe the stock price would rise. I have stated this since the day the dividends were issued (you can check my post history).

Milestone, not one of your arguments in defense of the BOD has any credibility (IMO). You seem to be cherry picking and spinning and I am not sure why. I skim most of your posts now because you seem to have an agenda of punishing Brian or defending everything the BOD has done.

PTSC needs a new BOD.

long and tired of the squabbling over a worthless BOD.

teremoto