"The 10Q filed (12-10-2010) says:..."

Since the demission of Goerner & Bibeau in October 2010 the BoD or better: two of the BoD member have taken additional management tasks but as long as PTSC had CEOs I cannot remember any equal phrase in the filings or in the PRs indicating the BoD acted as management.

So while I agree PTSC consists of one "main" manager and two part time manager it doesn't change my point that the decisions which are seen to be bad today were processed by CEOs = management and not the BoD. Of course the BoD has to approve the decisions of a CEO but who wouldn't have trusted a senior and experienced guy like Mr. Goerner in these days?

GLTY