"Obviously, they are not able to agree on a third member for PDS."

Hmmm.

Which do you mean?

(a) they're actively looking for one but can't find one who is mutually acceptable, or

(b) they can't agree on whether to have a third and independent member at all, or

(c) they agree to no longer have one (which is what I was told in a private conversation before the SHAM 6 months(!) ago.)

If (a) and (b) then isn't that a deadlock that needs to be resolved "somehow" for the sake of integrity?

If (c) then isn't that a material change to the current ComAg and/or of the PDS charter and should be reported as such to PTSC shareholders as well as to the SEC (unless maybe it is alluded to in a prior filing - I don't have access right now)?

If (b) is in play then I think the past several months imply (c) anyway.

In any event, right now it would appear the ComAg and/or PDS by-laws are breached.

Move it all into some Bank-managed Trust and shut down PDS - if CJ is being paid to "attend PDS meetings" there's about 100 extra legal hours that could be paid for instead.