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Message: My Take

Brian- I also went back and pulled one of your posts for discussion.

“Posted by: biajj on April 10, 2008 04:33PM so, FWIW, my analysis and opinion of the Q, and in reading his letter, is that the total license revenues of the Js WERE accounted for, and I cannot find any support short of tortured or convoluted bootstrapping rationale to think more monies will be forthcoming.

I also think he should have addressed the illiquidity aspect of our $10,000,000; and why we shouldn't be concerned.

It looks like push has finally come to shove.”

The above post seemed to unambiguously point the finger at management and despite the fact that you preface everything with “opinion” the fact that you are capitalizing WERE prior to “accounted for” in your statement is evidence of a quite strongly held opinion. Coming from you as the shareholder rep this kind of thing carries more weight than the average poster.

My statement that “Brian seems to be concluding that S&L and Carlton Johnson are behind some sort of manipulative actions here limiting the flow of funds to PDS and eventually to the Q.” assumed way too much about your thought process there. My apologies for presuming to know what you might be thinking.

I can’t argue with your take on the poor judgment of the board in parking monies in what probably seemed like great short term “liquid” investments at the time. That will continue to be a hindrance in PTSC management’s pursuit of a merger or acquisition for at least the foreseeable future until the credit crisis eases

I did make the assumption that your dissatisfaction with the Q was in part due to your revenue / net income expectations having not been met. Apologies again for having done so.

The last thing I want to happen is for you or Fut to post less. My original point was kind of lost in all of this.

The fact that so many folks here on the board look up to you guys and therefore are likely to be influenced by you, led me to try to point out the obvious - that what all of us express here on these message boards are mainly interpretations and opinions and should not be considered facts by any stretch of the imagination.

Therefore when Brian Biajj or Fut, or Ronran or other “titans” of the board say something as negative as “push has finally come to shove” the board sits up, takes notice and (pardon the overstatement here) they go running to their respective barns to get their pitchforks, their baseball bats, their torches and the mob mentality switch gets collectively flipped. Keyboards all over the place then go into overdrive posting all manner of unsubstantiated accusatory diatribes.

This cannot be good for us as long term investors. That was my point.
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