In reading over the link that Milestone had provided (see further down), I find it interesting that the BoD reduced the number of director positions from six to five. Some would argue that this is a good thing because it is less money to pay out. However, by doing so, it absolutely gives Johnson, Felcyn and Faulk the majority vote among directors (assuming they vote as one mind).
From the link:
With respect to all matters other than the election of directors, the affirmative vote of a majority of the voting shares present in person or represented by proxy at the meeting and entitled to vote on the subject matter will be the act of the stockholders. Directors will be elected by a plurality of the votes of the shares present in person or represented by proxy and entitled to vote on the election of directors. Abstentions will have no effect for the purpose of determining whether a director has been elected.
Our bylaws provide that the number of our directors may be no less than three and no more than seven, with the exact number to be fixed as the Board determines. The Board has currently fixed the number of directors at six; effective upon the election of directors at the Annual Meeting, the Board has fixed the number of directors at five
http://www.sec.gov/Archives/edgar/data/836564/000101968709004450/patriot_def14a-012810.htm
Regarding shareholders right to vote for directors....as long as plurality voting remains as part of the bylaws for PTSC, does it really matter how we vote...for, against or not at all? Our BoD has limited the number of directors to five with Johnson, Felcyn and Faulk as the majority within that five. To sum it up....those three pretty much control everything.
I'm curious...has there ever been anything that PTSC shareholders have had the opportunity to vote on other than directors and accountants?