Good time to announced a 10b5-1 plan by directors
posted on
Jan 11, 2012 04:04PM
While I think they could be written (especially today's) much better to provide better impact and more information, I'm glad to see the good string of positive PRs of late and welcome them.
Are there any additional license that can be announced? The EVENT of the Markman hearing is coming soon! The annual meeting not far off. What else is in the can that can provide a continued stream of positive news about the company?
Certainly more license announcements would help, though without at least an order of magnitude of fees paid, they have limited benefit.
As we can see from what's come in the last 2 weeks, 2 months, 2 years, etc., because of their dismal history of performance and judgement over the last 6 years, even multiple positive news is greeted by the market with a very muted response. There is clearly little to no market trust in the management/directors of PTSC. And who can blame that judgement when you look at the absence of "skin in the game" by that crew.
A way to rectify that, IMO, and something that I think would provide a SIGNIFICANT signal to the market that these recent announcments and upcoming ones represent a turning of the page/corner is for these 3 historically tone deaf directors to file a 10b5-1 plan establishing that they will be consistent and significant buyers of PTSC stock on the open market.
At this point, they can't buy due to the yet to be filed 10q. But as soon as that's out, they should be unencumbered. And filing such a plan, detaches them from future "quiet periods" as it states up front what and when they will buy and sell and puts in on an established schedule that, regardless of whether they have inside info at a particular time, still allows them to buy shares if done as established in the plan . For them to do so in conjunction with or right after the 10q would be a HUGE boost toward supporting the share price and would lead to a change in perspective from the market, even without dollar figures tied to license announcements or results of the Markman being know.
Considering their stubborn and destructive deathclutch on the control of PTSC, it's the least they can do to begin to rectify the damage they have done. I hope they will take advantage of the opportunity to make advances toward proper stewardship of PTSC.