"The SEC makes the ultimate decision regarding our nomination, not the PTSC BoD or their attorney Mark Ziebell (interesting connection: Ziebell/Swartz/Johnson)."

No kidding!

CJ makes much more for his Board work at Peregrine Pharm than he does at PTSC. He also has Board positions and income from CryoPort and Ecotality.

In addition, CJ works directly for Roswell Capital Partners, of which Eric Swartz is a principal (http://roswellcapitalpartners.com/ourteam.html). Presumably he gets a salary there.

Researching these companies recent Proxy statements (all online and public) builds the picture.

CJ's Board positions at CryoPort (CPRX) result from an 'agreement' beteen CryoPort and BridgePointe Master Fund - which is managed by Roswell. He made $28,888 plus stock options in FY2010.

At Peregrine (PPHM) CJ made $151,000 cash in addition to a large number/value ($482,700) of Stock Options and a "option exercise forebearance' agreement worth $96,715. He is Chairman of the Board and also on the Compensation, Audit and Nominating Committees (all also include Eric Swartz and David Pohl!). There (http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001144204-10-020265)

At (ECTY) he is a Board member (Audit Committee). Looks like another member is paid $1,000 per month.

One has to wonder how he can get away working 50% or more of his time on PTSC and still keep these other companies and employers 'happy'!

2 interesting links:

http://investing.businessweek.com/research/stocks/people/person.asp?personId=1537263&ticker=CYRX:US&previousCapId=189510&previousTitle=PEREGRINE%20PHARMACEUTICALS

and

http://investing.businessweek.com/research/stocks/people/relationship.asp?personId=1537263