The term fiduciary refers to a relationship in which one person has a responsibility of care for the assets or rights of another person. A fiduciary is an individual who has this responsibility. The term "fiduciary" is derived from the Latin term for "faith" or "trust."

A fiduciary relationship exists with individuals who handle money or property for others. For example, your employees or contract employees may be fiduciaries, if they handle money or property. Trusted advisers like your accountant or your attorney or your insurance agent may also be fiduciaries.

In a corporation, the board of directors, as a body, has a fiduciary responsibility for the decisions they make with regard to corporate assets and the rights of stockholders.

The fiduciary responsibilities of a corporation's board members includes:

• Avoiding conflicts of interest
• Acting in the interest of the company rather than the member's personal interest
• Providing oversight to assure that all company business is transacted legally
• Making decisions to protect the assets of the corporation.

How does our BOD rate in terms of the above primary responsibilities? At this point, I couldn't make a strong case for ANY of the above.

Felcyn, Falk, and Johnston...PLEASE do the responsible thing and step down.

IF (and thats a big IF) any illegalities or misrepresentations to or by our BOD have occurred in regards to Crossflo, TPL, PTSC, PDS, Swartz etc etc etc some oversight by the San Diego District Attorney Bonnie Dumanis would be in order.

http://www.sdcda.org/

It is time to set the record straight. Retail NEEDS to step up and create change or just continue to sit back and allow your interests and shp to erode away.

After 11+ years of this nonending roller coaster, I'm sick and tired of options...warrants...options on top of warrants...and most importantly an over compensated under qualified non performing BOD. The only possible way for this company to succeed BEGINS with an all encompassing sweep out of our BOD. Critique me if you will, but be prepared for more of the same.

Go PTSC Onwards and Upwards!

Cheers~