On October 5, 2009, we announced a reorganization of Patriot Data Solutions Group, Inc. (“PDSG”) and our management. On November 12, 2009, we announced our intent to divest the Iameter portfolio of data analysis and software programs. As a result of our reorganization and PDSG’s continued inability to meet its business plan, we have incurred impairment charges for our intangibles and goodwill in the PDSG segment of our business. We continue to fund the day to day operating costs of PDSG while continuing to reduce expenses.
Cash shortfalls currently experienced by PDS and TPL, and continued negative cash flows incurred by PDSG, will have an adverse effect on our liquidity. Accordingly, we are in the process of examining alternatives that could allow for the partnering or divestiture of PDSG. If successful, these measures may provide for a further reduction in expenses and cash use, or additionally in the event of divestiture, cash proceeds.
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It doesn't qualify because it states the obvious?
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Be well
