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Message: A repost because I'd like to know...
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Hi milestone,
I have been the one, who was 100% convinced, that Swartz sold most of his shares and thus the proxy was a slap in my face - and I stand corrected for my wrong theory...BUT rereading yesterday's proxy I'm thinking that something is wrong with the last proxy from April 07 (or we were/are wrongly informed).
For this reason I wrote an email to the BoD this morning:

"Dear Gentlemen,
according to the Proxy from April 2007 the list of beneficial shareholders does NOT show Swartz Private Equity (SPE), though the filing from 02/09/07 clearly states, that SPE owned more than 38mio shares at the end of december 2006.
IF the Proxy from April is right, it would mean, that SPE sold all af his shares in the two months january and february 2007.
But in yesterday's Proxy from 09/27/07 SPE suddenly comes up with more than 5mio shares.

The only explanation I have for this:  there has been a mistake in the former Proxy from April 2007 accidently missing the line with the beneficial ownerhsip of Swartz Private Equity.

Because I regard this as a MATERIAL issue, I would appreciate a correction/an answer SOON.

Best regards,"

The filing from february shows SPE and Lincoln Ventures (LV), which are both Swartz subsidaries, the proxy from April only shows LV as shareholder and the latest proxy shows both - together with more shares than in April and 9,1% ownership of Patriot (remember, Turley told, noone had more than 8% ownership with PTSC!)
I only see two possibilities:
- They "forgot" to mention SPE in the April proxy and SPE was the entity, which sold shares since january 07 and owns as of August 31 only 5,5mio
- SPE sold all his shares between 01/01/07 and 02/28/07 - a scenario which is highly unlike

Whatever it is, I'm hoping and expecting an answer from the company.

GLTA
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