New NIRC on '336 may get us back to mid 30's...maybe
posted on
Jan 25, 2010 02:27PM
Depending on what events surround the company over the next few weeks, if you look at the pps response to the last '336 recert, the price went up to a high of 42 cents, and seemed to be settling in the 30's. That's even before the "wave" PR and the even in the midst of the PDSG debacle and Goerner fiasco.
That changed with the granting of yet another re-exam, which began, or at least supported the recent slide back to the low teens. However, if this latest re-exam is dismissed and another recert issued (hopefully the USPTO decides this SOONer than later), then it seems logical that we could revisit the prices reached last time. I think, considering another NIRC should mean that the '336 is even MORE secure from future re-exams, there's an argument that even higher value is justified.
That being said, the current BOD that brought us Pohl/Swartz, Turley, Goerner, Flowers, ARS, and fairly consistent price depreciation over the last 4 years, is still at the helm and pulling the strings. They've managed to throw PTSC into a complete state of uncertainty (mimicking the MMP situation with the USPTO), though sadly on the local front, it's based on decisions THEY'VE made, and acts of commission and of omission that fall at THEIR feet, rather than some third party requesting re-exams.
That we're limping into the Annual Meeting without a CEO, no definitive sense of where PDSG is going, and no willingness or ability for the BOD to lend clarity on the MMP front or the PDSG front, simply reinforces that this company deserves the 13 cent price tag or lower.
Whether, as many here point out and hope, a resolved '336 status is enough to overcome the chaos this BOD has created (perhaps intentionally when you look at the totality of their actions), remains to be seen. I certainly hope and in some ways expect it to at least get us back to the 30's which from this position is a pretty nice return for anyone willing to jump in at this point.
However, barring any substantial new positive announcements around the SHM from the company showing that they have a plan moving forward, or perhaps (on the negative side), an announcement showing that they got outfoxed again and have again given away control of another asset PDSG (I know, "asset" may be the wrong word, lol) by Baroni, I can't see any gain in a USPTO announcement providing any sustained pps success without further substantial licensing flowing forth, or even better court victories.
Even thn, the question remains, would this BOD be able to translate the ultimate positive situation, a completed recertified MMP, AND, licensing, AND, a court win, into a sustained and increasing return to all investors, or would it serve mainly to reward insiders and the agents they serve? I hope the BOD will take advantage of the meeting in Chicago to explain with CLARITY, how the plan to do that, and to rebut the perception that THEY'VE created, that is clearly shared by many.