Ease,

The most recent SB-2 was filed to register about 17M shares and 6M some odd warrants but none of these were related to S&L. My understanding is that the shares(stock) were already sold prior to certain investors and already in the OS count. The warrants on the other hand were to be converted into shares and would increase the OS by that 6M figure. This was to take the OS to about 355M but there were no filings after that and we have gone to 369M at the end of Q107 and even more recently on an amended 10Q 384M. All while no one filed...could be a bunch of <5% warrant holders??? I know there were quite a few that agreed to convert back in Feb06.

Out of the 50M warrants remaining I beleive S&L account for some 42M (35M which were repriced at .015 and 7M that were issued to retire the converts back in Feb06) and the rest is made up of a bucket labeled "other". This bucket I assume could be related to TPL/AMD or the ESOP.

Now if we use the 384M OS which is the most recent number and 423 fully diluted OS the difference is 39M which has to be the warrants. Knowing this one can assume that another 11M warrants were either converted by warrant holders or bought by PTSC (50M-39M=11M) during Q207 but we will have to wait and see. Patriot is the only one I can think of that could be buying back warrants with no need to file with the SEC.

I say fully dilute this bad boy so investors can have some transparency. I'd like to see the company even go further and take all the shares repurchased through the share buyback program and retire them.