Only An Opinion - nothing more
in response to
by
posted on
Jul 01, 2011 03:14PM
I recall at a sharehholder meeting a few years back that Lecktrone defended the PTSC BOD and stated that they deserved their outrageous compensation packages. why would a shark like lecktrone defend the PTSC BOD?
Lecktrone/TPL are a private entity and really should not care what the PTSC sharehholder pays its BOD. But Lecktrone felt a need to voice his opinion and defend the BOD. My guess as to why is because the BOD basically turned the entire MMP over to TPL in exchange for maintaining BOD positions that requires only a minimum effort to comply with SEC regulations and fillings and they would receive BOD compensation packages as long as PTSC existed as a company. the structure of ptsc was set up where the bod could not easily be voted out. The BOD could care less about the sharehholder,imo. the only reason we are in court with TPL is because TPL crossed the line in negotiations with an infringer and TPL/Lecktrone was being sued. The BOD needed to file against TPL to protect themselves because the dirty laundry (co-mingling of licenses) was going to become part of the court records. PTSC BOD failed in its fudiciary responsibility to its sharehholders....i do not believe they did not know what was going on with respect to lecktrone and TPL. it was part of the deal with TPL...you license...we collect fat compensation packages for signing a few sec documents every quarter. as soon as ptsc managed an exit strategy for its warrant holder, they were done with their work with respect to growing PTSC shareprice.
the patents, i believe, were strong at one time and had the ability to generate large revenue. but tpl has weakened the enforcement of the MMP by co-mingling with TPL patents and has turned the MMP into a litigators dream and a sharheolders nightmare. my guess is that the co-mingling started with Sony. since then it has been pretty much straight downhill in share price. the J3 deal after the positive markman is one that the shareholder will never know the true details but my guess is TPL got what it wanted and PTSC BOD signed off to keep the compenation checks flowing.
We trade for the same shareprice prior to the MMP. the only way that i see this changing is for the BOD to step forward and protect the MMP from TPL. I do not see any indication of this happening and yes...i dont know. but the BOD has yet to effectively manage or communicate its plans for PTSC as a company. Why in the world, with the potential of 100s of millions of dollars in revenues, cant PTSC and TPL reach an agreement? Seems easy from a common sense perspective: ptsc has an oustide compnay examine the books, TPL separate its licensing activity between the MMP and the TPL portfolio. but we stagnate as a compnay and shareprice because the co-owners cant agree? cant agree on what? we are only talking about the MMP. It should be cut and dry...no commingling of licenses and an outside company examines the books. but we cant seem to do this.
The fate of PTSC can no longer be blamed on the PTO. The fate of PTSC is in the hands of the BOD. why can they not communicate with its sharheloder some sort of guidance as to why an agreement cannot be reached with TPL? No details are required, but a little guidance to the owners of the company would be appropriate and within their rights as a public company.
this has turned into a self inflicted nightmare.
completely disgusted by PTSC.
teremoto