Surprising PR news from Patriot. And if you read it carefully you find this:

"The Eclat team, lead by CEO Greg Baroni, recently assisted the Company with an assessment of key management,"

Well, this shows, the BoD was not happy with RG, PB and SR and they brought in Baroni not only to take a look at the products but at the key management. My guess is, this was the first job Baroni had to do - and the consequence was the dismissal of these three guys.

Furthermore it says, the BoD was not happy with the strategic direction of PDSG ("to help assess the strategic direction of PDSG") and with the operational structure and focus as well.

You can't buy a company which hasn't been successful with its product without changing some things significantly. My guess is this could have been one of RG's problems: He bought Crossflo and thought those guys who ran the company the last years (WITHOUT financial success!) could run the company in the future - huge mistake! Of course there's a reason why Crossflo suffered though they had a great product: It's - like mostly - the management.

Thus a very good move by the BoD which shows they are much more involved than most of us think.

Another interesting hint in the PR news is the timing of the CEO search: First there has to be made the market validation study. If the study is completed it will be one of the tools to identify the needed qualifications of the new CEO. Reading this I would be very surprised to see a new CEO this year - but as I said before: I don't care that much because as long as the patents are not completely through the USPTO processes the company is not in full force. I prefer that they take the time they need to find someone who stays with PTSC/PDSG a long time.

GLTA