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Message: Apologies to the board - FutTheWuk was correct!

Apologies to the board - FutTheWuk was correct!

posted on Feb 17, 2008 04:22AM

Couldn't response earlier to the question of Swartz financing PTSC with 55mio$ in 2000-2003, because my wife's grandmother celebrated her 100th birthday yesterday.

As I went through the early filings in the last weeks and months, I saw the $5mio agreement from 99, the $30mio agreement from 2000 and the $25mio agreement from 2001 - AND I saw, that the $5mio agreement was completely fulfilled (=PTSC received $5mio), that PTSC received about $3mio from the $30mio agreement and about $0,9mio from the $25mio agreement.

That was enough for me to get the picture, because at that time I was only searching for the development of shares and warrants count for SPE and LV. And thus I MISSED the further development of these agreements, which were NOT - as FutTheWuk stated absolute correctly - fully used.

This means, Swartz did NOT put $55mio in PTSC (at least not related to these agreements), he "only"  gave about $15 - 20mio  to PTSC over one decade (SPE + LV).

Sorry for my wrong numbers, typical consequence if you do not finalize, what you started and thanks to Fut for pointing me at this.

GLTA 

 

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