We are adrift
posted on
Oct 09, 2009 07:49PM
But maybe not with out a sail....
First off: In addition, the Board has removed Paul Bibeau as Vice President, Business Development of PTSC and Renney Senn, a senior executive at PDSG.
I suspect that the whole Crossflo deal came to be becuase Senn and Goerner sold the BOD on Crossflo with the understanding that we would have contracts included in the deal. When the deal was all said and done, there were not any contracts. Thus the withdrawl of PTSC's projection of Crossflo sales for this year.
We paid Crossflo shareholders what we did because we thought there would be built in business with the deal. Never happened. When some more time went by and Goerner and Senn still didn't produce any sales of the Crossflo product, the BOD hired Baroni to find out if in fact, the CDX product, we now owned, was the real deal or not. Apparently from the PR today it looks like it will be.
The litigation is to get some of our money back from Crossflo because we overpaid without the promised contracts. Goerner and Senn had to go because they decieved our BOD. Bibeau must have been in on it too in some way.
I think the MMP is just fine. However, with us loaning PDS money again it appears Leckrone is broke, as Moore has been telling us. I'd bet we hear about more licensees soon. Is the market closed Monday?
We are adrift, who will step forward and sail this ship? I would think Flowers can handle counting our license money for awhile.
My speculation only.