As I intimated back in April:

http://agoracom.com/ir/patriot/forums/discussion/topics/416643-pds-and-mmp/messages/1370747#message

And as PTSC clarified in their last PR:

"Secondly, we have had some questions about the Independent Manager role as it relates to the Management Committee of PDS (the joint venture entity through which MMP Portfolio results flow). The previous Independent Manager's contract ended on May 31, 2010, and as such this role has not been filled. At this time, Carlton Johnson, Patriot Board member and our representative on the PDS Management Committee, has been granted oversight of PDS' banking activities."

http://patriotscientific.com/index.php?option=com_content&task=view&id=263&Itemid=29