Please read post :

Agoracom.com/ir/patriot/message/528953

If you haven't already.

 

We have recieved 49M- our share of settlements  S/L has pocketed $49M with warrant conversions.Does that sound like something is wrong. This has to be one of the stupidest financing deals that I have ever heard. I think they have bilked us enough. To be greedy is one thing but lets not destroy the thing that feeds you. Hard to swim with

an anchor tied to you.

 

Here is an excerpt from ttccr's post:

 

"during 05 and now, s&l pocketed at least 49m in cash and still hold 80m shares and 22m warrants all for a measly loan of less than 1m and with a repricing clause in place, it would have been hard for them to lose that 1m as well, so s&l made good money with out taking any risk, so even if the markman goes poorly and we lose at trial, s&l still walks away with  50+x their initial investment, plus the ability to sell the remaining 80m shares on the way down, but i don't think they will have to sell those shares, those are being held for the real money, a ptsc win, and that's when the longs prosper, and i believe that s&l believes that as well, because the payoff then could be in the 100s of millions for s&l with that many shares, and that is why deep pockets never lose, and could win huge with no risk, the original deal was set up as a pipe, for s&l to make a few million like all the pipes they set up, but it turned out different when the patents showed real value, then the game changed, with s&l being in the right place at the right time.

 

let's take a quick look at some recent events, fish lawsuit settled is huge, fish taking 5.5m in stock is huge,  i guarantee that taking stock in place of cash was against the advice of their attorneys. ptsc buying the stock on the open market is very telling, that is unheard of for an otc,  warrants almost all converted, again, it cleans the books, no reputable company has this type of warrant set up on their books. major accumulation going on, since july my guess 75m shares, since tracking in october 20+m.  pohl said that this stock would be volatile, he knew during the run and told everyone in not so many words that sp would be volatile, ie, that the dilutive affect would drive down the price and he also knew that there would be periods of spikes caused by pr's.  the sony signing and subsequent chip license with alliacense even though originally ticked my off,  in hindsight i think was a brilliant move, it eliminates the defendant strategy that tpl is a patent troll.

 

in closing, most of you know i'm a trader who has accumulated 225k free shares that i am keeping as a core, only the second time in my trading career that i have ever kept a core, aapl being the other, why a core with ptsc, after i thought through what s&l was doing i developed a strategy to do the same thing, even though it had to be in a slightly different way,  take profits, accumulate shares, hold long free shares, the difference is that s&l basically made their money with zero risk. and as all retail, we have to take risks the big boys don't, good luck to you and i hope we all prosper.  i could go on with some other theories about tpl, but let's leave that for another time, 06 was the year for the trader with all the volatility we saw, if all goes well, 07 is the year for the longs."