Some months ago, I had a conversation with John Burns, CEO of Holocom. He mentioned that one of the companies that PTSC invested in (forgive my memory .... I believe it was Talis) had been shopped all over San Diego for quite some time and that everyone else had passed on it....except PTSC.

If John knew that others has passed on it, why didn't our board know this too. Makes me wonder what kind of due dilligence our board and CEO engaged in before deciding to buy.

Yes, all companies probably have made a bad decision(s) and are affected by things for which they have no control. However, overall, I'd say that Apple, in spite of its ups and downs, is a successful thriving company and has brought value to its shareholders. Unfortunately, the same cannot be said of PTSC. With different board members would we be sitting at less than ten cents today? Hard to know for sure but I'm all for a change in leadership to see if this change alone, can move this company in a direction that will bring value to all of us.

Can any one of us say for certain that every deal PTSC has been involved in has been an arms length transaction? With Eric Swartz's right hand man sitting on our board and the Faulk family CPA also sitting on our board, I can't be certain that shareholder interest comes first. Unfortunately, I have only instinct and no facts to know this for sure.

So time moves on and we still have heard nothing from the BoD. I guess the next communication should be news of the location and time of our next shareholder meeting, hopefully in October. How sad for all of us if that is the only news to have been formally communicated to us since the last ASHM in January.