Sounds like I am in the Minority
posted on
Jan 19, 2011 08:21PM
I do not think that this was such a great meeting. There is no reason we could not have had a live and a virtual meeting. I felt questions were dodged or were given feel good answers and not being able to see what they were saying to each other or how they looked at each other and those two breaks they took made me wonder if they were getting calls from Leckrone as they stated that they were the only ones there per a question Stan asked early on. However, they could have had Leckrone on via a live telephone line or had an attorney on telling them what to say or how to say it. These things we will never know so like I said I was not thrilled with the meeting.
I think they pretty much stayed away from real controversy.
Where were the heavy questions on TPL?
When we were told that PTSC had "experts" both legal and accounting go over the M&A and did not see a problem with it as the Directors on the Board at the time did not before it was signed then an obvious question popped into my head.
Based on that statement, I wrote a question asking whether we should be looking into filing a malpractice suit against these experts? They did not pick that question to read but I think that it is a legitimate question.
I had a few other questions such as when do we stop giving early discounts?
Also, Ron brought it up but I wondered and asked why we would agree to sign a license agreement with a company and agree not only not to make the amt confidential but also the company that bought the lic. confidential? Why in heavens name would we do that or agree to that? As I said Ron basically asked the question but did not get a very good answer and to be honest I have never heard of a company keeping quiet about who they license their patent rights to. This one makes no sense at all and once again as Ron said it sure does not help the share price, not a penny's worth.
For those who called it seemed as if Brian was the only one who showed true anger at the Board.
Only one of my written questions was answered indirectly and that was regarding related to the burn rate as to how long the company could survive which was answered at $500k.
God Bless you all
Marc