10-q ....
posted on
Jan 18, 2011 11:23AM
"During June 2010, PDS advanced Alliacense $410,000 to fund payroll and rent obligations. Due to non-payment by Alliacense, this amount has been fully reserved for at August 31, 2010 and the allowance has been recorded as “Reserve for loan loss and uncollectable receivable” on PDS’ statement of operations for the six months ended November 30, 2010."
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7658540-6885-104843&type=sect&dcn=0001019687-11-000179
I assume this was listed in the last Q although I am not sure, perhaps someone knows off the top of their head?? The occurrence of this situation a couple of months after we already filed suit against TPL/Alliacense certainly should cause concern. This might be a good candidate for a virtual question which would likely get passed over, virtually.