"Do I blame Swartz for selling.. no. I blame those who allowed him to accumulate so many repriced warrants, debentures and shares.. and those who then gave him divy money for warrants that didn't deserve it.. I blame those who didn't insist on a 'no shorting' option in the L&S contract."

Here's another example of perfect 20/20 hindsight and Monday-morning quarterbacking/ second guessing that everyone who seems inclined to lay blame at the feet of the BOD are so good at-etc etc.

Since you were not there - how could you possibly know that Swartz did not offer these items as non-negotiable components of their last-resort financing proposal? I can imagine that this is standard operating practice in the world of high-risk / high reward financing. Take it or leave it and if you leave it you basically fold up the tent and go home.

How do you know for a fact that this was not the best option available to the PTSC BOD AT THE TIME?

Answer? You don't know for a fact there that were better options available-yet here you are more than 5 years later still second-guessing the BOD on this subject as if financing a shaky fledgling shell of a company is something anyone can do by just opening a phone book.

Must be nice having such perfect hindsight vision!