<The timing of the filing is not nearly as important as the content.>

Yes, you are right, as long as the delay is indeed entirely out of PTSC's control.  We will probably never know whether this was the result of waiting to the last minute to get started, or not planning ahead, or not willing to spend the money to ensure a timely filing etc..   That is where trust comes in.  And there lies the problem IMHO Opty