"And all of this assumes talented people are just lined up waiting to be invited to the PTSC board."

You hit upon the key point. No one wants a failure on their resume. As this company stands now that would be the logical outcome. If however, we started to receive a large influx of cash from the MMP then the whole landscape changes. The resume could then suggest... "Took PTSC from the brink of disaster and made into a strong profitable enity". But, unfortunately our BOD is going nowhere. They will have to be rooted out. Where else can they get a job especially with PTSC on their resume.I think they realize it is sink, or swim for themselves. They need to hire a strong CEO, but until the money starts coming in what reputile CEO would want the job. And so we wait for yet another reason.