"My opinion: First and foremost THE WARRANTS AREN'T GONE YET! So this could be just the SOS - S&L selling into the news/volume (however modest). Nothing has changed or will change till trhe warrants are gone, i.e., when S&L quits selling shares."

My links showed S&L with 5m warrants remaining which were covered by the PTSC purchase plan. To all intent and purpose, the S&L warrants are effectively gone.

"This opinion is arguable, however (even by myself! LOL). I don't KNOW how many shares S&L currently hold, and thus I don't KNOW how many S&L may need to sell to enable any further warrant conversion and stay under the 10% threshold. But I will say that assuming S&L are selling shares to enable further conversions, this is good, because it's that many fewer shares that PTSC will need to essentially buy via the warrant buy-back program, preserving the war chest for other things."

On Februry 28, 2007 Lincoln Ventures had 32,248,173 shares, of which 23,845,100 were warrants. 7,000,000 warrants are being purchased by PTSC. This gives a maximum holding for S&L of 25,248,173 shares. Obviously, 16,845,100 warrants have since been converted(on a cashless basis?)thereby further reducing the holding.

This talk of S&L holding 9.99% or 40m shares is therefore spurious.

S&L are also prohibited from buying any PTSC shares during the warrant purchase period.

http://www.agoracom.com/ir/patriot/m...

PTSC have stated that they are buying all the remaining warrants held by S&L(2m purchased, 5m to go)so there is no need for S&L to sell to remain under 9.99%, the filings indicate that they are already well under that threshold.

"They may be just reducing their sizable position (though this too defies logic - why sell now when we appear to be on "the verge"?)."

Perhaps they have other financing projects on hand which will generate a similar return to that already received by them on their PTSC investment?

Please accept my apologies if my explanation confuses rather than clarifies.

Be well