The Company requires additional time in order to adequately analyze appropriate accounting and disclosure matters related to transactions occurring during the quarter
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D06%252D014873%252Etxt%26filepath%3D%255C2006%255C04%255C12%255C&symbol=PTSC
They`ve had since February to consider the implications unless there have been new accounting procedures since then.
As both the convertible debentures and Phoenix Digital Solutions were filed in the delayed 3rd quarter 10Q(under advice!), what has everyone been doing during the last 6 months that necessitates a further duplication?
Be well