Of the current people at PTSC, only Falk and Felcyn have direct links which effectively commenced in 1995/7 via the Helmut Falk Family Trust. Both should be as keen to see the value of their respective shareholdings increase as any other shareholder, more so Felcyn given her duties as Executrix of the trust.

As I can find no challenges to her legal competence as Executrix, it can only be assumed that the beneficiaries of the Trust are not dissatisfied with her abilities as Trustee also.

Falk's position I could live with because of his direct interest in seeing his holding increase in value as any failure would impact the value of that investment. His experience and contacts within medicine only recently made his involvement more viable given the direction of PDSG.

Felcyn also has shares as well as the legal duties of a Trustee which would also indicate a requirement to increase the value of the stock. As a qualified CPA, who has worked with Fortune 500 companies, I could see no reason to replace one accountant with another just to oversee regulatory compliance.

Both of these non-executive directors could be replaced by people with less direct ownership and possibly more experience but I don't see the need when there are places available on the BoD where those with more relevant expertize in other fields could sit.

Turning now to Johnson, most with a large investment in a company would seek board representation. If S&L's is now such that it is minimal, that reason no longer exists. Which begs the question why replace one lawyer with another? No matter what we as shareholders believe or postulate regarding his links with S&L, Goerner argues that he is competent in his role.

Goerner will no doubt be aware of shareholder feelings on Falk, Feclyn, and Johnson so I am quite happy to let him run the company as he was employed to do: If it works for him, it works for me.

As to the others, they have been here 2 years at most so I will not fault them for actions/inactions which occurred prior to their respective appointments.

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What a difference 4 years makes.

Back in 2005 there were growing and increasing deficit of $62,702,442.

Roll on the next 18 years (smiley)

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Be well