Thanks StormKing for a very thorough and informative SHM post-mortem. I have been to 4 of these soires with as little as 15 people to approximately 200 people, and have written extensively on my impressions of the meetings and posted them on AGORA in the past. Have met and chatted with the 3 Amigos, and with CJ in depth.

My comments below..

Gloria, I feel your pain and Mea Culpa, as well. I too, have suffered the indignity of recommending PTSC to others, who are similarly underwater, and have jepoardized friendships. Contrary to what Brian posted earlier, I don't have deep illusions as to what Gloria's influence is on the Board, nor her compensation package of $350k over 4 years. Many people on this Board have little understanding of what Gloria does and dismissively regard her as just an "Accountant". As someone in Finance, I can appreciate all of the detail work and corporate governance and SEC R&R's required. I DO find fault with her "Due Diligence" in the Goerner/Crossflo debacle. A few years ago, the AGORA crowd clamorred for diversification and putting our new found monies to work to grow PTSC. Hindsight is 20/20. We will never know what went on behind closed doors prior to that acquisition. While Gloria has a vote, perhaps a key vote regarding others looking to Gloria's massaging of Crossflo's books, I put the blame squarely on CJ. Falk & others simply dance to CJ's tune IMO. I would be curious to know what if any, did CJ contribute to the SHM proceedings, other than handing over the mike to Gloria.

IMO, the principal problem on the BOD is CJ. With all of CJ's duties at PTSC (He's on every committee in-house it seems), and his other duties managing Peregrine et al, I believe there is a conflict of interest at the least, and seriously question whether CJ spends a sufficient time on PTSC duties and whether he care whether PTSC succeeds or fails. IMO, all of our energies should be aimed at removing CJ not Gloria to begin with. Addititionally, why not give the Holocom Pres more responsibilities?..He appears very competent and is making PTSC money. Could he be groomed for something greater??

The comment said by Leckrone regarding "Johnny Appleseed spreading his seeds all around" is tiresome IMO. He uttered those very same words at prior SHM that I attended. That field is fallow for right now. Nothing is growing! Borrowing $1M from PTSC does not inspire confidence in his leadership. Mac on the other hand,is good with charts to his credit and I have nothing but high regards for him.

For the life of me, I cannot understand how/why TPL/Alliansense is in such dire financial straits. Why Lecky cannot subcontract out the licensing activity to a bevy of outside lawyers at a discount and make it up in volume is what I wonder about. Perhaps it is a control or greed issue. Good to see more contacts are being made and I sympathize with the negotiation appoach. EVERY negotiation is different. There are a myriad of complexities and financial considerations to make.

Going forward...Good to be reminded again the Patents are "golden". The BOD appears to have learned their lesson, albeit at shareholder expense, and will take a "cautious" approach going forward for the forseeable future, IF their words can be believed. If so, assuming the ramp up in signings is imminent once the '336 is approved again, I look forward to the issuance of dividends ($.02-.06) in the early fall if the BOD is serious and wishes to make amends to the long-suffering shareholders. Coincidently issuing the divys just prior to the next SHM, whereby shareholders should be in a better mood, likely leading to the SHM meeting being held closer to home in Carlsbad or LA IMO...Sorry for the long rant..Hang in there folks, we're in the rapids now..but calmer waters are on the horizon..or is it the Falls I see ahead?..lol.

Virt