PTSC sold 4% stake in Talis?
posted on
Aug 06, 2008 05:45AM
At the start of the day PTSC announces 41% stake in Talis. At the end of the day ( after market close ) PTSC announces partners have increased their investments in Talis. ( This implies that these partners were already invested. ) So who are the partners? How much did they pay? To whom did they pay the money, PTSC? Did they pay more per percentage than PTSC did? Did PTSC make money on the deal? Did PTSC sell those 4% stakes at a break even price? Did PTSC trade those percentages for something else? ( like what? percentages in the partners' businesses? or ? ). Did PTSC sell or trade those 4% stakes for less as a sweet heart deal for some strange/unknown reason? The press release was unusual to my experience in its timing and lack of clarity. More to speculate about and research. Who are ( have been ) Talis partners prior to this latest increase of ownership. And finally is this Talis company going to be fully aquired by PTSC soon? I have been thinking about all this since the announcement but have not had time to present these questions until now. Anyone have some of the answers?
Talis Data Systems partners: PTSC, DST, Holocom, and SPI
Or is it just PTSC listed as a partner and PTSC has partners that now increased their ownership of Talis through PTSC's ownership? Example, just for accounting purposes, PTSC purchased 41% and then say Holocom bought 2% ? etc. Maybe this reduction was from 41% to 37% was in house so to speak, but the 4% thing seems odd to me. Just wondering.
"Patriot Scientific (OTCBB: PTSC) today announced that in addition to Patriot's increased investment in Talis Data Systems as previously announced today, two of Patriot's partners in the Talis venture have also increased their investment in Talis. This increased investment effectively reduces Patriot's share in Talis from the previously announced 41% to 37%. This additional investment by our Talis partners is further validation of the continued commitment of Patriot and our partners to support"