Re: What Wrong Doings?...Optymystic
in response to
by
posted on
Jan 27, 2010 01:27PM
Opty,
I do not mean too get into a debate with you on this but......your point on dividends may need a further look before you state your opinion. Dividends were issued and PTSC had every right for whatever reason right or wrong to grant them. BUT what they did was specifically write the granting of dividends to WARRANT holders. As a general rule warrant holders are not entitled to dividends and PTSC needed to actually specify this provision. Is that illegal? Nope. But it tends to the muddy the waters when you examine the corporate structure of PTSC. The BOD is comprised of people who work for our warrant holder Mr.Schwartz. Not illegal but not a cut and dry issue either.
Price spikes and inside info. Well why was PTSC sold off after we hit $0.90 after the J3 settlement? We dont know but we were told PTSC was very happy with the agreement. So who sold off on this great news? My guess would be the warrant holder. Since the issuing of dividends PTSC has had a spike on a license announcement then and immediate retracement in SP. Illegal? Nope. But my guess is the warrant holder sold into each piece of news. IMO we lost the average speculator/investor after the issuing of dividends because we issued them and specifically included the warrant holder whom, after any small DD an investor would uncover the ties between the BOD and the warrant holder. IMO this is why we continue to drop....no new money comes in because the whole corporate structure of PTSC was and is tied to Schwartz, the warrant holder.
The relationship between Pohl, CJ and Schwartz goes beyond a round of golf. They were and still are tied together in the same company that is not PTSC, but a company that is run by our old warrant holder.
None of this may not be illegal but in my mind PTSC is definetly tip-toeing on the very edge of ethical behavior.
IMO RG was brought in to try and rectify the damage that the BOD and Schwartz has done to the company. But, again IMO, the BOD is so weak and just content collecting their salaries, that no one is guarding the hen house and RG took advantage of this. I also believe TPL takes advantage of this weak BOD.
I believe I am no different than a lot of long time share holders who are underwater in their investment.......pray for positive PTO news and bail as soon as we can break even. The current management group does not instill any confidence in their ability to grow the company.
teremoto