Re: BUSHleague - Seems like PTSC is funding the fight AGAINST PTSC!...hmmmm
posted on
Jan 18, 2011 05:19PM
PDS owes TPL $3.1 million.
TPL owes Patriot $1.0 million.
Alliacense owes PDS $400,000.
And yet you guys still insist that Patriot is the one being raked over the coals by Leckrone.
Here's how I see it - Patriot made the $ 1 million loan to TPL. Shortly after Patriot told TPL they wanted a renegotiation of the CMA and that all payments from PDS to TPL will be withheld. TPL said, if you withhold payments, we will not pay your loan back. At 2/28/10 PDS owed TPL almost $2,000,000. Maybe the loan was "unsecured", but it was secure in that the money owed by PDS to TPL was a hedge.
Then in August PDS lent Alliacense $400,000. Big deal - they were still ahead in the game by what PDS owed TPL.
Bottom line - none of this gets resolved until things are renegotiated. However, upon completion of renegotiation all of this goes away.