Further to my post on the subject. Just how many times has RG mentioned that he plans to use treasury stock for M&A?

4/12/2008

I expect that we will use a combination of cash, equity, and less likely debt to accomplish these objectives.

5/12/2008

We will utilize the company’s capital resources (stock and cash) when considering the acquisition of any operating business.

6/24/2008.

While we expect to use Patriot stock as our chief currency in any transaction,

7/21/2008

We plan to utilize Patriot’s capital resources (stock and cash) when considering the acquisition of any operating business. While we expect to use Patriot stock as our chief currency in any transaction,

RG has included that info in every discussion of M&A. Could someone knowledgeable opine on this subject of treasury stock. Does RG need our OK to make use of it? What is the legal requirments pertaining to its use? Is RG fulfiling some obligation by including that info every time he mentions M&A?

I assume RG is smart enough to realize the impact of those statements on the sp, so knowing what the legalities are might help to understand it.

Opty