Ease,

"You believe that S&L would have to file with the SEC if they were to go over 4.99%, or 9.99 % combined, but per their agreement with PTSC, that won't happen, so they will never go over the prescribe amount. That pt should be obvious."

Currently S&L are over 5% combined and that is the reporting threshold...aquiring a >5% stake whether it be one person or beneficial, S&L, percipitates a SEC filing. S&L are beneficially over the 5% mark and thats why they had to file the 13G. You say that wont ever happen but it did and thats why they had to file.

http://www.gsionline.com/support/for...

This Schedule discloses beneficial ownership of certain registered equity securities. Any person or group of persons who acquire a beneficial ownership of more than 5% of a class of registered equity securities of certain issuers must file a Schedule 13D reporting such acquisition together with certain other information within ten days after such acquisition. Moreover, any material changes in the facts set forth in the Schedule generally precipitates a duty to promptly file an amendment on Schedule 13D. The Commission's rules define the term "beneficial owner" to be any person who directly or indirectly shares voting power or investment power (the power to sell the security).