Dear FTW101,

I cannot comment of what is happening with the stock price/short activity etc., but I do appreciate your concerns.

You suggest that I should sell only in an uptrend.  Playing the devil’s advocate, I can see you or someone else asking me, if I did as you proposed, why sell in an uptrend and put a damper on the increasing share price…?

There is really no “good” time for someone like me to sell shares as the assumption usually is that when an insider such as me sells then it must be close to the top… I want to prove that assumption wrong when I sell shares at Pyro.  If you look back, I have been selling shares at low stock prices as well as at high…as such one cannot infer future stock price based on my selling habits.

I also do not believe that I am putting pressure on the stock.  I am also not selling large blocks all at once, but I am trickling it out slowly slowly.  If and when I sell it is done respectfully and with a healthy view to market volumes.  I hope you realize that if I sold the same volumes that I did recently, and assuming 220 trading days a year, it would take me over 8 years to sell everything I have.

You also suggest that I do a cross trade with a broker…this would be the kiss of death.  Despite what everyone preaches the fact of the matter would is that as soon as a firm got wind that I wanted to do a cross the share price would be hammered (to set up the situation where they could purchase the block cheaper) …this type of activity is almost a given. 

Last but not least, I am adding to my position. Net effect: I own more shares now than I did last December 31st (cannot recall the exact number).  I am selling primarily to exercise warrants which were/are expiring…plus enough to pay taxes thereon.  What would you have me do?  Pay millions and millions of dollars on top of everything I have invested, and I am doing?  If I did that you should run for the hills as that would not be financially prudent…and if that is how I ran my personal finances what would you say about how I ran the company’s finances?

Hope that helps,

Peter