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Message: No guarantees that Baroni evaluation is complete

No guarantees that Baroni evaluation is complete

posted on Dec 31, 2009 03:47PM

From the Oct. 9, PTSC press release:

The Board of Directors has endorsed this reorganization of the Company with the intent of providing a new generation of leadership that will transform Patriot and its wholly owned subsidiary, PDSG, into a more innovative, integrated and global company. The changes being made are intended to accelerate the transformation of the PDSG acquisition and enable a faster implementation of its strategic direction. The Company will seek management with appropriate industry expertise to accelerate that growth. In that regard, the Company has retained Eclat Consulting LLC of McLean, Virginia to assist the Company in its search for a Chief Executive Officer and to assist PDSG with the completion of its business plan and the acceleration of its revenue stream. Additionally, the Board expects to receive a favorable independent technical assessment of PDSG's flagship Crossflo DataExchange® product (CDX) within the next two weeks

From my conversation with Greg Baroni:

He expects to have his evaluation done by the end of this calendar year.

From an e-mail received by investor relations :

The specific reporting and communications to our Board from Eclat will not be made public.

I don’t know if the Baroni report has been completed. I can only say for sure and based on the e-mail response that PTSC has no plans to make it public.

Laurie

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