SGE1 / Re: Why do people keep questioning "Material Event"?
in response to
by
posted on
Jan 22, 2008 11:37AM
To me that's an obvious answer. I'm trying to determine the true impact to PTSC of the settlements as best as possible.
For obvious reasons, I'd like to do so if possible BEFORE the next 10q so that I have a better insight and advantage to work from. It would impact my decisions, as I assume it would for you or someone else, if I could determine to a fair degree of certainty that the value of the contracts was for example $5M vs $100M vs $500M. Wouldn't that be good information to have?
Since it can't be deciphered simply from the news put out by the company, it requires further consideration. Since the SEC has certain threshholds at which contracts and other agreements have to be filed through an 8-K, trying to determine what those thresholds are, and how exactly PTSC has applied them can provide signficant detail that isn't obvious from the surface of the info to date.
If for example, the requirement to file an 8-K under section 1.01 is required for contracts over 15% of the total assets of the company, then it would appear as though the value of each of the individual settlements is below that. If I can determine that calculation, then I can know what to expect. If in fact, that's not the threshhold, but perhaps something else is, that's helpful to me.
I'm not doing so to find a violation to report, but rather to make an educated investment decision. However, if we did find out that PTSC PURPOSEFULLY mis-reported, wouldn't you want to know that as well. I know I ceratanily would as it would give me insight into the type of management team we have and their ethics. I don't say that from an antagonistic point of view, but simply as without having a heart to heart over dinner with Turley, Flowers & the BOD, the only way I can get to know them is by their actions. So I endeavor to decipher their actions.
I guess I would ask you in return, based on the above point, WHY WOULDN'T you want to know?