Re: Share Holders Annual meeting
in response to
by
posted on
Oct 24, 2011 08:56PM
NOONE SPECIAL wrote: While the frustration with the BoD and current situation is abundantly clear and understandable, who fills their seats if they are bounced out? Any guarantee they will be any more competent? "Meet the new boss, same as the old boss."
I would like to see both Felcyn and Johnson voted out for sure. They have for years supervised the decline and fall of PTSC, enriching themselves and their cronies as they did it. We absolutely need fresh blood on the legal and forensic accounting side to aggressively (a) review past actions of the PTSC BODs, (b) stand up to Leckrone and TPL and get the MMP marketing back on track within 6 months (with or without TPL), (c) deep dive into all payments made by PTSC over the past several years and (d) diligently represent the shareholders. A motion should be passed requiring, in line with other companies, that BOD member be compensation partly in cash and partly in stock (grants) and also be required to maintain a minimum level of stock holdings. Example: instead of $50K cash, make it $25K cask and 25,000 shares. The double-dipping for "chairing" committees of 3 people needs to be addressed.
As for Cliff - even if voted off the BOD he would remain as [interim] President UNLESS the BOD make other 'decisions' between now and the Shareholders Annual Meeting. Regrettably they have the power to conspire inter-alia under the guise of "the benefit of the company" and further disenfranchise the actual shareholders.
I would really like to know from someone versed in such matters as to what the procedure is if and when the majority of BOD members is voted out at the SHAM - or even all of them.
My email to PTSC (ir@ptsc.com) regarding a date for the SHAM has, somewhat expectedly, yet to be answered.