Not from New Jersey? I'm just glad you're not from MO, the "show me State"! LOL

I'll give your questions a shot...

Does this mean we will purchase 2m in August 2m in September and 3m in October ?

I was originally under the impression that the first purchase happened in July (2M), then there would be Aug (2M) and Sept (3M). That was based on the timing of the PR, and the first words we heard from Turley about this, when he said "...by October...". Your quoted PR says "through Oct", so it could the middle of Oct or the end (could still be in the beginning I suppose) when it's all done. IF S&L's regular count is well under the 10% threshold (as I think it is) and IF S&L believes there is any risk (see more on this below), then I see no reason why they couldn't just convert away, ending the warrant story that much sooner. This thought has merit, in that IMO S&L is allowing the warrant buy-back in the best long term interest of their investment (in regualr shares), and it would be equally or more beneficial to resolve the issue in this way as it would allow PTSC to perserve more cash (otherwise spent on warrant buy-back) in the coffers (adding more probable benefit to PTSC).

And what determines the Purchase price ?

I believe it is based on the average PPS over the prior month. Here's where the risk thing kicks in, in a couple of ways. Is it better to CONVERT the warrants at today's, this moment's, PPS, or risk a lesser value per the terms of the buy-back agreement? Do they want to hold shares or cash going in to our immediate future? Remember, if they take the cash, they cannot opt to use it to buy shares because the buy-back agreement prohibits them from buying any shares. But if they convert, they can choose to hold 'em or fold 'em (more open options). IF it were me, I'd covert a bunch and only do the buy-back thing to a level where the buy-back money pays all costs of conversion (cost plus taxes on gain).

And if the purchase price is tied to current price then would not the current sideways SP be a good thing untill the warrants are done ?

Yes. Which makes the relatively small PR push a little perplexing; i.e., why do PR stuff when, if it works, it'll cost you more on another front?

And if that is so would we really want any strong PR right now?

See above.

And don't you get the sense sometimes that this whole saga is being carefully manipulated for a very positive ending once all the "ducks are in a row" ?

Absolutely. I think October is THE month (based primarily on the assumption that the only known scheduled dates for mediation have not changed from 27/29 Sept.).

Hopes this helps, but keep steadfast in your mind that I KNOW nuttin"!

SGE