First, IMO, Swartz is and for some time has been merely a "shareholder". Example: At last shm he talked - but from the shareholder side of the fence, not the company rep side.

Now think of what he said; something like "with settlement in TX, the PPS should go to $1.50 to $4". Now, doesn't that imply that, with the settlement, he should be buying - not selling? That is, if he (S&L), wanted to financially benefit?

Bottom line:

- I don't think he is considered an "insider" at this point.

- If he is selling, how could it be argued that he would "personally benefit" from selling the stock when even he, in a public forum, stated that he expects the PPS to go UP? (he would have to financially benefit from the trades to be in violation).

- He has a solid track record of selling over a significant period of time - a trend, which would be a sustained trend.

Thus, I think he can continue to sell to his heart's content.

Of course, this begs the question "Why is he selling?".

I have a strong suspicion that he is commited to unloading his entire position by a date certain, either as part of his (S&L's) own business plan and/or per an (written) agreement with PTSC (in exchange for past concessions), and to do so without unnecessarily disrupting. And I think that date certain is 6/1/08 (the first date at which he has zero say in PTSC's activities). If this isn't the case, his continued selling would defy all logic. I think he may be operating to a "bigger plan", far beyond PTSC.

JMHOs, and I KNOW nuttin'!

SGE