Re: We are adrift
in response to
by
posted on
Oct 09, 2009 08:05PM
<<<<I suspect that the whole Crossflo deal came to be becuase Senn and Goerner sold the BOD on Crossflo with the understanding that we would have contracts included in the deal. When the deal was all said and done, there were not any contracts. Thus the withdrawl of PTSC's projection of Crossflo sales for this year. We paid Crossflo shareholders what we did because we thought there would be built in business with the deal. Never happened. When some more time went by and Goerner and Senn still didn't produce any sales of the Crossflo product, the BOD hired Baroni to find out if in fact, the CDX product, we now owned, was the real deal or not. Apparently from the PR today it looks like it will be. The litigation is to get some of our money back from Crossflo because we overpaid without the promised contracts. Goerner and Senn had to go because they decieved our BOD. Bibeau must have been in on it too in some way.>>>
You are probably close to the mark with this guess although I am pretty sure Paul Bibeau was around well before the Crossflo folks surfaced. I would not lump him in with this group. As Business Development manager he had to go just because the overall plan didn't seem to be panning out. Promises not kept. You gotta go.
This is all a bit of a let down as a successful development project would have been (and maybe still will be) an X factor on the share price. I may be crazy but some of the bigger investors out there might see this as a positive. Could others be thinking the same thing?