Spotter57 / Re: SEC Enforcement Initiatives to combat Microcap Fraud/Laurie
posted on
Nov 22, 2013 09:16PM
"With all due respect, would you trust the Leckrones to hand over all of the information they have? Such as , all technical information from experts concerning our patents? I don't. Unfortunately they also have most and/or all records of the companies that they have contacted, in my opinion."
The BETTER question is why didn't Carlton Johnson & Gloria Felcyn make getting all of this information part of the original MA and CommAg when THEY negotiated it, and got compensated for those negotiations despite company policy that didn't allow for that compensation?! We PAID and continue to PAY for this info through our partnership in PDS. Afterall, they're OUR patents also.
An even BETTER question is why didn't Cliff Flowers, Carlton Johnson & Gloria Felcyn require that this information be SECURED THROUGH THE COURTS, when PTSC sued TPL over the Apple license, when they had a "second bite at the apple" so to speak?
Even BETTER THAN THAT, why didn't Cliff Flowers, Carlton Johnson & Gloria Felcyn INSIST as a CONDITION OF SETTLEMENT, that this information be provided to PTSC when the new CommAg or whatever we're calling it was formulated, when indeed they had the very unusual "third bite at the apple"?
Consider the combativeness with TPL prior to the formation of the JV. Even worse, consider the outright deceipt, fraudulent activity, and unabashed contempt that TPL has exhibited in its dealings with not only PTSC, but the rest of its MMP related partners, since. What happens if TPL / Alliacense offices, and all this info, get destroyed in a fire? What happens if key TPL/Alliacense personnel were to unexpectedly perish in an accident, or something like that? What happens if the MMP licensing process/activities are halted in some unexpected uncontrollable way?
What does 50% MMP owners PTSC do then? How do they EFFECTIVELY pick up the pieces at that point on this asset with a fixed lifespan? Regardless of whether we're stuck with TPL as 50% owners, Sole Licensors, etc., etc., the apparent FACT that PTSC not only doesn't have in it's possession the basic info backing up the infringement claims, status of negotiations, copies of all related documents, etc., but doesn't even know who or how many possible infringers there are or have been notified, is absurd and indefensible. However, apparently this is the case, as has been relayed by the company CEO to investors by phone, and tacitly admitted to by the company's refusal to respond to written questions on these issues.
It is a deriliction of fiduciary duty for them not to have secured possesion of these resources even if they don't do anything with them. As we've seen with TPL, and as PTSC has had no no viable excuse for not anticipating for many years now based on TPL's antics, TPL could easily end up in financial or legal trouble, and / or in legal conflict with PTSC whereby the partnership is effectively destoyed, and PTSC is left in a position where they can't effectively license their only assets. Just on basic business preparedness practices, PTSC should be prepared for this eventuality, in the event it should occur. What would we do at that point, have to start from scratch on licensing & proving infringment?
This is all EXISTING INFORMATION, that PTSC has PAID FOR. Why don't we have it? Why don't we know it? Why does the other 50% owner have it instead? Why has our BOD and Management put us at such a disadvantage, and allowed us to stay there despite opportunities to correct that imbalance, even while keeping the relationship with TPL/Alliacense as the licensing agent?
Would YOU do that? Would any of us do that?