The first step in my drive for my clarity from our company. This was sent
posted on
Dec 20, 2007 04:48AM
To whom it may concern,
My name is xxxxx. I have been a Patriot shareholder since 1999 and currently own in excess of xxxxxxx shares. I have faith in the technology contained in the MMP and in our current CEO. I believe Mr. Turley has the tools to take this company and its' investors to the next level and beyond.
That said, I, like a great many shareholders, am somewhat dismayed at the total lack of visibility this company provides its' shareholders. A mushroom makes a very poor conversation partner. It is, therefore, difficult for us to actively promote our company and technology to potential investors. We as investors constantly receive fire from all quarters. Unfortunately we have very few answers and only questions with which to respond. Public companies must, at a minimum, meet SEC requirements and I am confident Patriot will meet those minimum requirements. To do otherwise would not be prudent and would surely invite detailed inspection and oversight from the SEC. These reporting requirements, however, constitute the "minimum" reporting requirements, Shareholders are worthy of more than the minimum but will most certainly be watching to ensure those minimum requirements are met.
In addition to the lack of visibility provided by company press releases I am also concerned by some of the vagaries of Patriot's stock trading patterns. I would like Mr. Turley to address this issue with an appropriate form of public discourse. Angry, confused shareholders can create a myriad of problems for Mr. Turley, our Board. and other shareholders. I am relatively certain no one at Patriot wants to spend their time answering inquiries from or, even worse, being involved in an SEC investigation. Enough shareholder complaints to the SEC could trigger just such an intrusion from that organization and would trigger even more uncertainty and doubt. These results are concommitant with poor shareholder information and are, in fact, an almost predictable outcome.
I respectfully request that you forward this missive to Mr. Turley and that he provide more clarity and long range perspective to shareholders. Regardless of the NDA contained in the recent settlement, Mr. Turley can do a better job providing insight into where he intends to take this company as well as its' current status. Failure to do so is not in the best interest of our company. Thank you for your consideration.
Respectfully,
xxxxx