Mosaic ImmunoEngineering Inc (CPMV)

[Neverending]

This from the 10K shows how bad management has been for PTSC shareholders. I remember way back when shareholders were warning PTSC with calls and emails not to trust Lecrone/TPL and his son who runs Alliacense the licensing entity. Shareholders said Alliacence/TPL would comingle licenses and screw PTSC. Sure enough he did as PTSC alleged in court then let them slither away in a settlement to "keep the peace". Sure enough PTSC reaches another agreement with Alliacense/TPL to co-license the MMP with another company, Dominion Harbor, and under the agreement Alliacense was to give Dominion Harbor the info they needed to license the MMP on target companies. Sure enough 1 year later when PTSC has gotten none of the info they have to terminate Alliacense. Basically Alliacense, knowing what a sucker CEO/CFO Flowers has been in the past was trying to sucker him again to take less than the half list of potential infringers and less potential infringers then the agreement required. This is why PTSC is a wait and see. They have none of the schematics or infringement warning letters issued over the years to prove infringement and have had to start from scratch. From the 10K:

"Delays In Deploying A Licensing Agent Are Adversely Effecting Us.

PDS’s sole licensing agent implementing the MMP licensing program is Dominion Harbor Group, LLC (“Dominion”), which was appointed in October 2014. Since PDS’s previous licensing agent did not cooperate with the appointment of Dominion, Dominion has been redeveloping information and strategies that should have been transferred from the previous licensing agent. Accordingly, it has taken a significant amount of time for Dominion to develop such information and strategies. As a result, Dominion has not been able to commence revenue generating activities under the licensing program, which is having an adverse effect on our ability to generate revenues from the MMP portfolio. We do not know when Dominion will complete the development of information and strategies. Until such development is completed, we do not expect to be able to generate significant licensing revenues"


see risk factors p. 6

http://www.sec.gov/Archives/edgar/data/836564/000101968715003312/patscientific_10k-053115.htm