Folks I ruminated and ruminated all weekend and decided to inform you all of the offer my gaggle of investors and I did in presentlng to the Tlp Bankruptcy Committee my speculative imaginative fictious offer to purchase all the assets of the Lockrown famiies Tlp business which is currently in BK (of course not accepting their liabilites) Here are the bullet points of the that offer so you will know what it includes if it is to go forward.
One possible scenario why the Tlp web site was/is down is explained in the following scenario which I have divulged in a somewhat dreamlike state and in some detail below.
Last week I put together a scenario of an offer that I made to the BK Judge and Bk committee to buy all the remaining assets of Tlp, the offer was make by me but included a gaggle of investors. Thus the BK Judge and BK committee are reviewing this scenario and good faith offer.
I am not at liberty to divulge what led to this post however the offer is contingent, upon the following actions and forthcoming answers must be acceptable to myself and my gaggle of investors before the deal is consummated. I am also not at liberty at this time to divulge the exact names of my gaggle of investors as a good number of them wish to remain silent partners and a few are on vacation (hint somewhere south and even warmer then San Diego though we are a lot warmer then you folks elsewhere in the country and I wish those of you a hearty fireplace a warm cup of coffee and a ticket on an airline flying to San Diego as soon as you can. Can you imagine if the Super Bowl this season in NJ has weather like this ???? AFter our deal for Tlp closes I think I will campaign to have all Super Bowls from this year on in San Diego, Calif.).
Okay fyi it you are interested in what is required for our purchanse of Tlp out of BK.
The aforementioned bullet points as submitted with our good faith offer:
- The BK Judge must freeze immediately any and all negotiations that any member of the Lockrown family, employee of Tlp and or PTSC which they may be working on which includes any further work on license sales, patent sales, bundle sales of licenses. There shall be a freeze on any transfer of any type of any related or non related items which can be considered under the ownership the family Lockrown's, the incorporated firm known informally as Tlp or any aka that refers to Tlp. This stop action is to be inclusive of all actions currently in process with PTSC, and known subsidiaries of Tlpsuch as PSD and or Alliacence as well as any actions yet to be disclosed but were legally required to be.
- The BK Judge shall immediately order a stop to the destruction of any documents correspondence whether paper, digital or voice copy currently in the possession of Tlpor it's ownership. This stop also refers to the potential erasing of any hard drive of Tlp computers which shall cease upon the issuance of this order.
- That all shares in Patriot Scientific that are either owned by the Lockrowns and or Tlpor family member, trust or associate acting as a surrogate or stand in be part of the transaction I am attempting to finalize (this would include all shares that the Lockrowns made comment to at shm's of PTSC as well as any share purchased since or even before the shm in question that were not noted at the meeting.
- A complete and through forensic audit of all Tlp financial documents performed by a registered CPA. This individual or firms competency shall be determined by it's experience in this type of audit in this type of situation. The firm assigned this task must not currently have, nor never had in the past any association or friendship with any employee current or present of Tlp, any association with a current or past member of Patriot Scientific and no hint of any association or knowledge of any member of or relation to or friendship of of or business dealings with etc etc.... either of the Lockrown. This audit shall to validate my offer cover the previous ten years starting beginning and retracing from the date of my pending offer.
- A full audit by an independent patent attorney covering all the particulars of the type so designated above for a forensic auditor to be hired for this purpose. Any and all Patent sales of Tlp patents, patents pending and any part of any patents that TLP and the Lockrowns might have full/partial ownership inclusive of patents related to the MMP or any patents that Patriot Scientific might have any part ownership in (especially those patents and relationships with Tlp that PTSC shareholders may have no knowledge of.
- The through review of all internal correspondence between father and son Lockrown, including any correspondence with foreign based banking institutions, investors whether silent or active in Tlp and any Board members and employees of Patriot Scientific.
- A hold on any pending disclosed sale of Tlp corporate assets (even if the disclosures were made on little known news rags in the smallest towns in California), which is a common tactic if one wants to make a transaction a legal recorded action. As previously noted the audit must uncover all sales of any assets of Tlp covering a past period not to be limited to less then the past ten years from the date of my offer of sale.
- A good faith fiduciary bond shall be purchased by the Lockrowns or by The BK committee but must not be purchased by or with PTSC funds. The bond shall be in the amount of no less then 150% of what my final offer is and is accepted to purchase the remaining assets of Tlp, (Note: My offer does not include the acceptance of any debt or liabilities of Tlp). The full bond shall be 100% in force and be prepaid for a period of no less a period of ten years from the date of the final documents being signed and recorded in San Diego, County acknowledging my accepted and finalized offer of Tlp. If any or all of the funds from the bond is needed during this period it shall be accessed and it shall be used to repay myself and my investors if and when we discover that Tlpand it's ownership et al hid assets and pertinent information, misled or inflated assets while hiding liabilities that materially affected our decision to proceed with the purchase of Tlp so as to take it out of Bk.
- It is important to note that the the above noted fiduciary bond may be to "light" in the amount we are requesting and after further consideration we reserve the right to increase the amount requested for this bond. This action must be taken before our purchase package is delivered by bonded messenger to the financial institution of the BK committees choice.
- That Tlp and or it's current ownership or it's BK committee or BK Judge has not now or committed in the future to the sale oflphe 50% of the patents that Tlp currently own in conjunctions with PTSC and thus Tlp still retains that ownership and will only be transferred when the offer of myself and my gaggle of investors complete our transaction with the approval of the court and BK committee and with our approval of all the noted items herein.
- Patriot Scientific must agree to submit to an equally in depth accounting and correspondence audit (between members of PTSC and the Leockrown family and their surrogates which may or may not include members of the legal community.
- That Patriot Scientific notifies the Tlp Bk Judge that it will forgo any financial obligation that PTSC might have to Tlp and or the Leckrones and shall direct any obligations it thus may have incurred. Those liabilities or debts in any case shall be directed to be now considered to be the property of Patriot Scientific and all of it's legal shareholders. An example of this type of liability might be that behind closed doors the Board and or employees of PTSC agreed to hire as consultant(s) the Leckrones. As the Lockrown have already been well compensated for their work or at the least placed on certain joint panels etc..any obligation to TLP and or a Lockrown will no longer be considered legitimate and owed and shall as stated revert to and be owned by PTSC shareholders.
- The good faith offer put forth to the Tlp Bk Committee by myself and my gaggle of investors was (Note: this sum may be decreased if any additionally negative information is uncovered during the investigation and reviews as described above) formally or will be formally presented to the BK Committee and BK Judge as noted in the sum of One thousand five hundred dollars and no cents U.S.
Important information that must be read before anyone shall take any action based on the contents of this post. This post has been submitted as a test to see how far along the reader of this post went before he or she realized it is late Monday afternoon the 9th of December but it could be April 1st somewhere in time, and as it is highly unlikely that anything serious will come up between this time 0150 and 0500 on Tuesday the 10th of December regarding anything related to Patriot Scientific I decided to see how far illogic and foolishness can go on this Board before my post is noted as the joke it is meant to be.
However for those who have believed what I have post herein and are now upset with my to me ridiculous unscientific poll I would like to point out a few comments that I placed toward the beginning of this post and throughout that would make such post not legally binding as a notice of sale.... I refer to the verbiage ...."gaggle of investors"... since a gaggle is a flock of geese it would thus be impossible to have investors with even a penny to participate in the purchase of a stick of gum nonetheless a company....liberal use of the word scenario even and not limited to the title line of the post refers to "the imagined action of an event yet to occur or happen.... thus when I said ..... "Today I put together a scenario of an offer that I made...." is actually a nonsensical statement and an impossibility as you can not have a real offer taking place as a stated scenario. You will also notice that I refer to a company by the name of ,"Tlp" and it's owners as "Lockrowns".
And finally folks after reading the demands I made for the sale of TLP to be made to myself and my "gaggle of investors" i informed all of the readers who went to the end of the post that my offer to purchase Tlp was one "of One thousand five hundred dollars and no cents U.S. or to put it another way the offer the gaggle and I made was $1,500.00 US.
Now if the BK judge and BK attorney would approve of such a deal for TPL, I will be more then happy to make it an all cash transaction (change the name to the real name of the company I am speculating on and bring cash to the court house steps first thing in the am. However, somehow I would imagine that even TLP is worth more that that if it has PTSC shares as I demand they be included, and it includes the asset of the 50% that TPL owns of the MMP etc etc....
I do hope that there has been some enjoyment received by the happy folk on this site and if you find it a strange post then please note a good friend of mine calls me "Ole Folk". which means I am allowed some weirdness every now and then. Or even some dementia which I think is setting in as I have already forgotten what started this post.
Merry Chirstmas to All and to any Jewish Agora Members a Happy Hannukah to you for after all our wonderful country is founded on teh solid and moral and ethical principles that are known as Juedo / Christian positions and when anybody argues that point with me I alwasy direct them to the US Consitution, the Federalist Papers and all the writings of our Founding Fathers.... We are a country founded on Judeo / Christian Principles and that is a fact whereas TLP and it's owners the Lockrowns are quite fictious after all who could imagine in real life there be such an utterly sly, sleazzy, underhanded, evil family like my imaginsary folks herein are portrayed to be.
And as Timy Tim would say .... God Bless You One and All
Marc
