First, kudos to you babjak1 for your continiued DD. You have my vote :)

Also thanks to mynot for your digging and most recently posting the PNP case studies.

I would like to offer the following for everyone's consideration and critique:

Assumption: PNP is likely the largest institutional holder of NOT. They have disclosed a total investment of $47.5MM. (as of June 30)

Fact: Sheldon certainly wields some influence.

Assumption: PNP owns just shy of the 10% disclosure threshold representing approximately 17.5MM shares.

Fact: PNP is still under water to the tune of $19.1MM (as of June 30)

Fact: On average, for each of the case studies that PNP has marketed (caveat - why should I invest) where they no longer own a position, the average ROI has been 242%

Assumption: PNP has not averaged down their average cost and therefore it is $2.71 per share (47.5MM / 17.5MM)

Assumption: PNP will look for the same ROI with NOT that they have recognized in their marketed case studies. Therefore, 2.42 X $2.71 = $6.56.

Consider and critique.

Cheers,

Milsy1