Re: IMO the "Confidential Treatment" filing is a cowardly act by PTSC
in response to
by
posted on
Jan 06, 2015 05:08AM
against better Transparency for Shareholders.
1. These types of compensation schedule/% arrangements are not much of a secret among those in the industry. Besides, do you really think these multinational companies care at this last ditch stage of the game, or that it will change their strategy for dealing with a microcap like us, or when so much is already exposed about our license fee history ???? Really ?? Since the industry either knows or doesn't care, who else could they want to hide this from ? Hello ?? lol
2. If gross license fees are recorded, anybody who is willing to devote the time necessary to reverse construct the Q reports can also reasonably figure out the Contingency % or costs.
For these two reasons I believe this type of filing is a pathetic and sophomoric attempt mainly aimed at keeping Shareholders in the dark.
I want to know if Carl Johnson, or if any of our current lawyers or those that have been retained by us previously, will also be receiving an xx % referral fee (as is not uncommonly practiced in the legal community), for any billings or legal fees paid to Dominion for their future licensing efforts. If so, do you think that "referral fee" would end up raising the overal costs to us ?
For years I have asked the question whether BOD members or Executive Officers, or their own private companies, or their immediate family members, are receiving income from PTSC that is not disclosed and itemized because it falls under the $120,000 exemption. The only sounds I've heard in reply are crickets.... Why did the BOD raise the level up from $60,000 ? Why don't they lower the threshold to $5,000 before requiring it to be disclosed ? Why not simply and plainly tell us if those connected to the company are also receiving ANY other monies from us aside from what is identified, and if so, how long it's been occurring ??
Setting such a high $120,000 dollar threshold on a tiny company that is teetering on solvency and losing money year after year, and where leadership overwhelmingly does not have the trust or confidence of Shareholders, is just another example of what I consider failed corporate governance and cowardice by PTSC.