Sweet deal for S & L, no doubt about it.

I don`t like the fact that the terms of the additional 7 million of warrants being issued wasn`t disclosed. If they were good terms, they would have been.

Still leaves 80 million in warrants out there. But these can`t be repriced anymore. I`ve always been a little at odds with biajj regarding the pricing windows, but must confess haven`t done the research he has. However my gut feeling tells me that at some point in time, as PTSC share price rises, ``forcing`` the price down during repricing windows would be futile, because the price at the opening of the window is already set well above the current exercise price assigned to those warrants. In a nutshell, I have my own doubts whether the repricing windows would benefit S & L in the future because they couldn`t work the repricing to their advantage anyway.

However, PTSC has been able to give the perception that they`ve taken great strides in making things better. Sometimes perception becomes reality.

But I have no doubts, S&L come away smiling.