Just another thought which I have not seen mentioned, does anyone know the terms under which the lending facility can be withdrawn? Is it possible that the bank canceled the balance of its credit agreement and required payoff of the current debt?

Also Pete, keep the guns handy, I'm with you! A thought about transparency, a long time ago I was quite vocal about the way the board halted communication with us due to their non disclosure agreement. I always tried to make the case that NO agreement could overcome SEC regs which require disclosure of "Material Events". The counter they offered was an outside opinion stating that due to the now recurring nature of PTSC revenues no single event was material and in need of disclosure.

I want to make my case again. Digging up old memories of mine gives me a notion that any event representing an expense or income above 5% of revenue IS material and requires disclosure. I want to make the case that the original "recurring revenues" argument no longer holds water (if it ever did) and the BOD, if THEY choose, can / must report any SEC material event regardless of any other agreement to the contrary. I bring this up because I think this is where Pete can get substantial leverage at the BOD. If lawsuits come, a single dissenting vote will remove the excuse of our interlocking circle of friends that "we (BOD) were all misled. It never occurred to any of us. We all simply depended on the experts and followed their advice."