While I agree with some of what you're saying, please keep in mind this was NOT a PR/News release - it was a letter to shareholders (that they didn't have to do).  If they were interested in issuing this info as NEWS, it would have been in a PR (not just posted on their Web site), and likely not on a Friday after the bell.  In fact, they could have just included it all in the PR of Thursday. 

That said, IMO the timing of the letter was orchestrated to enable S&L to dump a bunch of shares at a higher PPS and with a ton of volume, allowing more warrant conversions (with no out-of-pocket expense to PTSC).  In this sense, the letter "looked like it would be news" to those cognizant (and to a degree, it was). And, along these lines, notice that the News of the dividend came out in a PR on a Thursday late in the trading day, and that's where we were advised of the letter on Friday.  If what I'm suggesting (i.e., S&L dump opportunity created) isn't the case, then I'd be truly baffled.

And IF my speculation was correct, I'll add that PTSC did this "orchestrated act" with the idea that true longs would not be harmed.  What true Long would have sold a single share on Friday, KNOWING the further visibility was imminent?  As I have said before, the move was brilliant, more so recognizing this aspect. So, assuming my speculation on this is correct, I applaud DP.

SGE