Sorry for the formatting problem with the other post. I take the numbers directly from the S-1-Filing AUgust 2002:

Lincon Ventures' (which suddenly come up with 27mio shares - only hint are two filings from April 2002, which can't be read electronically) ownership is 27,910,526 as of August 02. In the same line it says, that with the remaining 10,189,662 shares AFTER the sale, LV will own 10, 27% of PTSC.

In my little math world, this means, that LV ALONE owned about 27% as of August 2002...

Now take a look at the amount of shares & warrants Swartz Private Equity owned at the same time...nearly the same.

And this is NO wonder, because Swartz invested 55mio $ (at least, because he started in 99 and there are additional agreements/contracts) in PTSC (two investment agreements: "$30 Million Equity Line of Credit Agreement" and "$25 Million Equity Line of Credit Agreement"). It's even written in one of the filings of this years, that PTSC's ability to operate was solely based on the funding by Swartz.

To repeat it again: Though I hate the 400mio OS - it's the reason, why PTSC still exists. Thus I'm sure/IMHO one of the main reasons of the last two years' shareprice erosion was the problem of decreasing the ownership of SPE/LV in acceptable dimensions.

GLTA