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Message: If it acts like an OTC company, trades like an OTC company...

If it acts like an OTC company, trades like an OTC company...

posted on May 16, 2009 04:59AM

...and communicates like an OTC company - is it then right to conclude it is an OTC company?

Since more than three years I have this "Patriot" experience and though it might sound silly to some of you: I never saw Patriot as a typical OTC company.

But with all the things happening, with the shareprice development, it gets more and more obvious to me Patriot is a typical OTC company, where shareholders can't use the same standards as with NASDAQ companies.

Why didn't I realize Patriot was and is an OTC company?

Well, the patents were "real world applications" used by real world companies, who were willing to pay real world money (Intel, AMD, HP, Fujitsu etc.) - this ingredients didn't match with the normal OTC parameters. Additionally the former CEO, Mr. Pohl, seemed to be a honest person, supported by a guy, who had market credibility (Mr. Turley). So the only thing, which made PTSC an OTC company was its size and its place at the OTC.

BUT: "Everyone" was convinced the REAL place for PTSC would be the NASDAQ and not the OTC - PTSC was the exception, PTSC was this ONE company of thousands, which was the pearl. And that was the reason I (and others) invested too much in this company they looked at as a S&P company instead of an OTC company.

Now looking back to the last three and a half years:

The communcations efforts (including the three dividends) in the first two years were typical OTC (anyone remember that PTSC sponsered AGORACOM? IMO in order to influence this board), because they were playing the pump and dump scheme to satisfy Mr. Swartz.

The shareprice development and manipulation was and is typical OTC (starting with huge volumes and exploding prices and heavily dropping to more than a 90% loss from the highs).

The missing transparency (of course because TPL and PDS are private...) is typical OTC.

The dilution of course is typical OTC.

There sure are further signs, which make PTSC a typical OTC company, but what I'm trying to say is the following:

All the time I expected PTSC to behave like a S&P company and got angry and disappointed, when they didn't.

But now as I realize (I know, this really sounds childish) PTSC is an OTC company and as long as they don't change to NASDAQ etc. they will not change their behaviour, I can accept the current situation a little better (though my loss is too great to relax completely).

Hope, anyone understands this long story and btw: I'm still optimistic for this little company...

GLTA

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May 16, 2009 07:21AM
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