Taken from a post by EastCoast regarding the ASHM held in Jan 2010- Gloria and CJ have stated they have reviewed TPL’s books. Why is it that Moore believes there was commingling of patent portfolio and funds and yet our forensic accountant and chairman of our audit committee found nothing to be concerned with until April 2010?

My sense of the TPL presentation is that they have devoted a number of resources to the support of litigation, re-exams, and licenses. Their discipline in retaining the needed funds to continue the course appears to be as short sighted as PTSC's. I asked the question to Mac and Dan about the use of the 950K the PTSC loaned them. The response was that the money was to be used for the MMP license, re-exam and litigation purpose. I did not hear that these funds were any part of a settlement or payoff of Moore, as some here on this site have opined. I then asked a follow-up as to the financial viability of TPL to continue to pursue the MMP on all fronts. The answer was that they believed that they had the financial ability to continue. Staying with this issue, I questioned the Board as to what they were told by TPL of how the proceeds of the funds would be used. They agreed that they were told that it would be used for TPL MMP activities. Gloria chimed in that she had looked at the books and felt that the loan would be secured and that TPL was in a sound financial position. I felt that this was somewhat strange that PTSC would look at the books for a loan that was secured with license proceeds that come due in six months. I put the info in the bank, so to speak.

I continued to question the Board along the same lines as TPL. Was the Board concerned that TPL was not financially sound and could not continue to pursue the MMP on all fronts. CJ said that from what he has seen at TPL, that they are financially viable. Gloria concurred. I put this information in the bank.

The last line of questions had to do with the audits of TPL expenses that are paid by PDS. Gloria and CJ say they review the "150 pages thick" documents submitted to support the charges. I asked if discrepencies have ever been found. Gloria said there have been mistakes found and that they had been addressed.

Now with the TPL and Board answers to my questions I asked why did we loan 950K to TPL for expenses that would be shared if the efforts were on behalf of the MMP. The stumbling that went on was laughable. Gloria summed it up like this "TPL does a lion share of the work" that, get this, they don't get reimbursed for. Well to me that doesn't sound like Dan at TPL.

With all this being asked and said, my take for all the answers was that there appears to be, and this my opinion, something in the pipeline that no one talked about but all seemed to know. As I say just my take from being there and asking the questions and view the responses from the parties.

Board said reducing Board salaries is very much on the table. M&A on hold, dividends, dilution reduction and the one I did not see on this board was reverse split to get on a different exchange. Flowers said there were some things he liked and some he did not like about this idea. Lastly develop alternative in conjuction with a new CEO.

Now knowing that one gets more information after the meeting than during the meeting, who should seek me out but DL. I told him we had met many time at other PTSC SHM. He forgot, how disappointing. He thanked me for my questions about TPL. I told him that I disagree with his strategy on the MMP. We agreed to disagree. I put my hands on both his shoulders and told him "your running out of money". I said I have concerns about TPL going forward. He said it is unprecendented that a patent would garner 260M. I told him that was great but I was concerned for the future. I told him I was concerned if "we'll" make it. He said we will and that I would be pleased. For what it's worth. Not a DL fan. Don't think many are that frank with him. Don't trust him at all. At least I had my say.

Cornered the Doctor with some other fellows. Told him the one of the many problems with PTSC is that no one tells you anything. I brought up the situation in Texas. I told him that was a total waste and that it was a defeat in manys eyes. He said something and for the life of me I can't recall the exact words but it led me to believe there is something more from Texas. That was my take. Who knows.