Been away from Friday until Sundaynight so I had no chance to post my thoughts on Friday's news earlier:

1. Some months ago (?) it was discussed RG offered his house for sale. If this was correct, I have to assume, the "problem" with RG occured then and not just some days/weeks ago. But did we hear something about a conflict between RG and the BoD? No, we didn't and I'm glad about it, because imagine what would have happened to our shareprice: The patents not yet revalidated and our "promising" CEO gone?

2. If the main conflict between the BoD and RG was about the "revenue failure" of Crossflo/PDSG AND irregularities in the DD (either caused by Crossflo people or by RG/PB), so it's right to guess, this conflict did NOT occur last week, but some time ago (see point 1.).

3. Thus it was perfect timing to await the recert of the '336 patents and furthermore...

4...to await the first new licensees after this revalidation.

5. Furthermore everybody expected to get the numbers tomorrow on Tuesday, but we got them on Friday! Why? Because they were bad and showed perfectly, that the MANAGEMENT (this is NOT the BoD!) did a bad job.

6. Now combine the disappointing quarterly with the major restructuring announcement and you get a sign of power IMO: The BoD was fully aware of the markets reactions, they found the best moment to publish it and they show the market (IMO the first time in the last four years), they have a clue about where PTSC/PDSG should be going. By the way: Were the numbers discussed on the weekend? Not really, everybody concentrated on this BoD trashing and so on.

7. Another sign of the BoD's strength was to bring Baroni in the game. He's "on board" (or at least involved) since exactly THREE months, so he should know a lot about PDSG and PTSC. Does anyone really think, the company fired RG without a plan regarding a new CEO? The PR news has a very strong language, so I'm looking forward to the resultat of Baroni's search (or will it be himself?)

In a nutshell - part I: I never agreed with the BoD bashing, though there a some issues I didn't agree (you can find some of my posts, where I defended the BoD for being the "last old owners" of PTSC), but I see Friday's news as a strong sign, the BoD really cares for the company!

I guess this different sentiment has a lot to do with my different assessment of RG:

a) While I was very happy about the nomination of RG in March 2008, just some weeks later I started to question his actions regarding the purchasing of shares and the shareprice action and of course the massive decline of the shareprice.

b) He started with action followed by ... silence...

c) We never got to know, what strategic relevance NuPower has for PTSC/PDSG.

d) We never got to know about the function/position of AVOT in the overall strategy.

e) The Crossflo/Iameter deals were all linked with Holocom/Talis - so where was the NEW approach of this high paid CEO?

f) As I said several times his presentation on ther FSX conference was both uninspired and weak. More: IMO he didn't present PTSC in the right way and didn't convey the potential of PTSC and PDSG.

In a nutshell - part II: RG had one and a half years to show his competence - but he didn't accomplish ANYTHING. To fire him NOW is just consequent and the logic move, if the one and only revenue source is starting to flow (hopefully).

So what is the conclusion of all this?

I) The MMP is the one and only revenue source we have and if all goes the right way, the main hurdles are climbed, so we can expect more new licensees.

II) With Baroni we have a strong consultant on our side, so we'll see some activity on the CEO front as well as on the PDSG front.

III) The BoD has done what a BoD has to do if things don't develop as they should, so I'm cautiously optimistic they will help to make PTSC/PDSG "a more innovative, integrated and global company".

In a nutshell - part III: I'm happy with Friday's news and I hope we'll get some good news this week to avoid the "blood bath" some are expecting.

Sorry for the long post, but this sums up all my thoughts of the last three days.

GLTA