We rail on Leckrone, et al and treat them as they were villians, but if we step back and assess what PTSC has brought to the table over the last few years...and if you take Wallin out of the equation, (personnel wise) what was there to really like about Patriot?
If Clara Peller were here right now, she`d be asking her infamous question...past tense.
So the jury`s still out in my mind on Intelasys. One thing`s for certain, they have movers and shakers in the legal field behind them, they`ve successfully recruited solid talent into their corporate ranks, and they have far more of a technical infrastructure. In essesnce, they have done the most with what they have, they`ve attracted the right talent and seemed poised to generate the most momentum moving forward -
IIMHO, at the base everyone`s fear, is how (and for me it`s not a question of if or when) Intelasys/Leckrone will address our preferreds and commons on a long term basis. Maybe we got a glimpse into things financially with their CFO choice. If they liked what Giff brought to the table over the past years, I think we`d have seen an indication, instead, Giff`s moved to a corner.
Last year at this point in time, TPL was rumored to have offered .04/sh for Patriot. Included, wasn`t there some hubbub that they wanted 50% control (or a similar percentage), something that Wallin wasn`t prepared to give them?....
Factoring the year of time past, more cash burn, legal fees (under dispute) would that have been a better deal than where we are today, or are we kinda there right now (minus the present stock price)? We`ve burned through a lot of cash in the meantime, but on positive side, we did get the AMD revenue...
Thoughts....?