I listened to the bankruptcy hearing and I have to say it does not look good for shareholders. The worst part of it was hearing PTSCs lawyers claiming and complaining that they are being gamed by Alliacense/TPL yet again. PTSC management and board have to be the most naïve management in the history of penny stocks. Either that or they are corrupt and being manipulated by Lecrone who has something over on them (SPECULATION ONLY). After being gamed numerous times in the past they still put themselves in the position of getting gamed. I told cliff flowers years ago that Lecrone is a junk yard dog and will never stop fighting for effective control of the MMP and most of the proceeds.
Currently in the December 19th bankruptcy hearing, PTSC says, Alliacense/Lecrone are dragging their feet in presenting 2 equal MMP license lists to PTSC of which, according to the recent July agreement, PTSC gets to pick one. As with any deal entered with the Lecrones they are using delay as leverage to change that deal. According to PTSC Alliacence/Lecrone now wants to simply give PTSC some of the list and lower potential targets. My guess is your weak PTSC board gives in to "go along to get along" as they have in the past. Lecrone had your PTSC board pegged from the beginning as weak and PTSC, not understanding a real fighter like Lecrone, thought that if they agreed to his terms he would play nice. PTSC could have fought him years ago. They had TPL Lecrone in court on allegations of heavily discounting MMP licenses to sell his other patents and pocketing most of the money. They then let him off. They even loaned him $1 million to keep from defaulting on your joint agreement. PTSC would then have gotten control of the entire MMP. My guess is PTSC caved because TPL/Lecrone used his control of Alliancense to threaten to completely scuttle licensing. Pathetic. You should be suing your board for breach of fiduciary duty to shareholders.
