Yes, I would tend to agree that this may present some circumstantial evidence that something is cooking. These ongoing extensions relate only and specifically to the execution of the agreement which typically are quite onerous and very specific about how new management will operate the business going forward and most importantly how the debt will ultimately be retired before the July'15 date that was mentioned earlier. In the event that circumstances such as a POET run-up bring covenants back in line, I guess there is a chance that debenture holders may defer the need for a Forbearance Agreement which from PNP's perspective....would be a very desirable situation. At the end of the day however, I'm not convinced that this ongoing saga will cause PTK any material repercussions.

It is hard to imagine however, that the extensions come as a result of some sort of behind the scenes information. If that is the case and is proven, SI may expose himself to something worse than a Forbearance Agreement.