Re: It appears to me the appointment to the BOD of Mr. Schrock is
in response to
by
posted on
Apr 23, 2008 08:42PM
i am not into the board squabbles that seem to perculate here from time to time. But i guess i can add to the speculation with my opinion regarding brian and his now posting to the board.
if you will recall we lost brian as a contributor to the board when he was appointed to the Advisory Board. This happened when we merged the MMP with TPL and our BOD removed every employee from the company and shelved all r&d projects. we were promised a growth (umbrella) strategy under Pohl but we never (IMO) perused this path. I strongly believe (and you can check my post history) that PTSC thought they could manage PTSC by allowing TPL to generate the revenues and they could do nothing and the stock price would grow. That BOD (which is still almost entact) was comprised mainly of some large share holders and their representatives. When Lowell struck the deal with S&L the BOD inherited an S&L representative. IMO CJ drives the board decisions and the others are really out of their league representing a public company with some potentially lucrative licensing revenue. The new additions to the company under RG are solid additions and bring real experience to the company.
When Turley was released and we acquired a real seasoned CEO, brian began posting. My first reaction was the BOD knows their strategy was not going to work. IMO brian was silenced as a contributor to the board for just the reasons we are now reading his thoughts. IMO he was aware that the BOD was weak and not making the prudent decisions to grow the company. THe bod was making decisions to appease S&L and to hold on to paychecks for never having to actually do anything.
now we have a new CEO that is actually doing things. Our advisory board representative is now able to speak because the old regime is now beginning to see the light.....the market wants more from PTSC than a shell receiving revenues for a product they turned over to TPL. And they did by all that I can glean from the SEC filings. PTSC is a 50% partner in sharing the revenue only....they have chosen not to participate any other aspect of the MMP.
I believe what you are reading via brians post are the reason he was not allowed to post for the last 2 years. He tells is like it is (at least in his opinion) and this is the same reason he was originally appointed to the advisory board.
teremoto