Because the PDS Operating Agreement specifically disallowed pay to it's BOD members, the PTSC BOD decided to pay Carl an extra $3,000 a month to be on the PDS Board. So, does anyone know if Gloria is now getting another few thousand monthly for being on the CC to add to her $8,000 per month BOD fee ?
Our failed BOD members are bleeding PTSC's bank account while licensing is stalled, the patent clock has only 15 months left to run out, and the company's shares are again sinking under 5 cents. It has not gone unnoticed that PTSC has not objected to the delays and Continuances in TPL's BK proceedings. If their paychecks were impacted like the eroded remaining value the stock has been due to these delays, you can bet those three would be screaming to get this heard, and NOW. That said, they aren't, so I don't think they could care less. I think they are just going through the motions until the MMP prosecution/licensing effort dies, or some miracle having nothing to do with the BOD's efforts occurs to revive it.
If Gloria and Carl and Cliff think that going along with dragging this out is somehow going to starve TPL out of cash and force them to change their petition to a Chap 7 , and thereby allow PTSC to secure the other half of the MMP, that is an extremely shortsighted strategy.
Perhaps, that's their plan afterall, it would make sense considering all the other stupid and foolish decisions they've made.
I guess timing and success doesn't matter so long as there's enough in the bank to get their $45,000 each month this drags out.
What do you think the odds are of Cliff receiving another 6 figure cash bonus this year to go along with his $325,000+ cash compensation ? As I recall, the last time we traded under 5 cents, Cliff received an extra $150,000 cash bonus for that year too.