Assuming future cash-flow prospects for PTSC are enhanced by facts cited in the recent PR, I would be heartened to know there was some plan to structure the company more optimally for shareholders.
As now structured (corporation), it seems to me that future net income--sure, assuming there is any--will be burdened by BOTH corporate (35%) and individual income taxes (top 35%, possibly rising to 39.6% in 2013). Throw in state income taxes, and this reaches a possible combined marginal rate >85% for certain taxpayers in certain states, and easily +60% for most everyone. And the war in Congress right now, and in November, is whether or not this will RISE.
Accordingly, if there is a future payoff to S/Hs from PTSC, I should like to see it within the structure of an Investment Trust which must pay out 90% of its profits to S/Hs. Otherwise, retained earnings either: (1) will build up within the corporation, possibly to be used by an inadequate management to launch another futile attempt at establishing a successful operating business, or (2) be paid out in dividends into this tax maw.
So the question is: does anyone know the mechanics of converting from a C-Corp to an Investment Trust, how much it costs, and how long it takes?
GLTA. Ron, I am sorry for your loss ... it is one of the three toughest we face (child, spouse, parent). God bless.