S&L really did not risk that much. Lowell structured the deal where S&L could continually dump shares and then reload. S&L put up some cash but they were basically given a printing press to the shares. They would dump shares into the market place while PTSC always had a message of hope. S&L was also given the incentive of constant repricing of the shares. Lowell set us up in a debt financing spiral. If the MMP had value, which it did, this should have been leverage for a bank loan or to at least renegotiate an equitable deal with PTSC. Problem was the BOD is deeply tied to S&L. S&L deserved to make money.....they did not deserve to rape the company.

teremoto