THEY prepared for this eventuality a LONG time ago..

http://www.sec.gov/Archives/edgar/data/836564/000101968709001304/ptsc_10q-ex30304.htm

This would give Eric Swartz another chance to scoop up any income that is forthcoming..

Just hold off on any Licenses until Patriot is broke,, 'THEN ' sell preferred to ES, and,'THEN'

close on Licenses,, AND,, "THEN',The Preferred stock will get paid before common.

There's more to it but it's SAD enough already.....

ALL neat and LEGAL........That's ALL folks........

What do you think of that plan..???