You don't!

That being said, and one of the things many here miss IMO, is that a very large part of a successful M&A strategy is maintaining a healthy share price. It's not JUST PTSC's lack of cash that limited their M&A strategy, it is their lack of ability to maintain a steady HIGHER share price. People say he "umbella strategy" is a flawed strategy. In retrospect, it was, but mainly because of the execution and PTSC's inability to take advantage of the higher shareprices it enjoyed. Making M&A deals when your share price is $1.50, or $1.00 or even $0.75 provides you with a lot more buying power, than doing so at $0.24, as they did.

I know this is 20/20 hindsight on my part as well, but PTSC has nearly 200M shares in treasury stock that it could use for transactions. Had the BoD and the management team been able to take advantage of the periods where the pps was elevated, or fought for agreements with TPL that allowed a more appropriately transparent communication strategy for a public company than what they negotiated, competent managers could have stood a chance at maintaining a higher share price through the dividend moves, and through communication, allowing them to perhaps purchase a stronger, more competitive, and quickly profitable company than Crossflo, or Vigylis etc.

The mistakes that have been made are not simple stand alone mistakes as Felcyn seems to imply in her wish they had acted a quarter earlier. They are compounding mistakes and interwoven, and unseparable in many ways. People criticize me and others for complaining about the BoD and for bringing up "OLD" issues, but it is exactly for that reason that they need to NOT BE FORGOTTEN. They perpetuate the failure despite what may (and at this point I think it's questionable) be good intentions.