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Once again the sells are piling up. Todays volume is 438k right now and the majority of trades have been sells. The only optimistic spin is that there is possibly a lot of tax loss selling going on which should continue until the end of the year. Hopefully it holds .10 pennies a share. The only prediction that seems to always be correct over time is that PTSC will continue to trade lower.
Always plenty of shares for sale as I watch the sells (all but 1000 shares traded today out of 478,000 shares) pile up this am. If PTSC succeeds it will truly be a miracle. There seems to be an increased urgency to sell shares this am. It appears ready to go below .15c today. I would expect it will trade in the low teens or high single pennies before the shareholder meeting. I hope enough longs show up to give them hell.....UPDATE!!! Just hit .148!
I said that no due diligence was present here in "awhile". I am a shareholder. I am expressing my opinions on PTSC and have been in and out for 3+ years. I have stated my disgust for PTSC BOD and failure to execute. I think the criticism is justified. PTSCs failure to address the issues or communicate with shareholders and offer ANY transparency is why the PPS is where it is..not my posts.
Its too bad I am the only one here doing some due diligence. Nobody here seem to revue the court filings or the many US patent office actions. I guess you must just be investing based on blind faith or some boiler room con has convinced you PTSC will make you rich. I have not read a post with any helpful insights or hard questions here in awhile. You should go join the Agoracom board. They only allow cheerleading there and posters who ask awkward questions are kicked off the board. You will fit right in.
Ouch! I just read the Patent Office non-final action on the '148 patent and it does not look good for PTSC. All the major claims of the patent were rejected by the patent office as being obvious based on other patented material. I do not see how TPL can overcome the rejections as they are VERY well documented. Go to the site below and enter the "control number" 90/008,227 and click on "image file wrapper" and read it for yourself. Now may be the time to get out at this share price. PTSC could go far lower than .10c! Don't buy based on the paid promoters on this site and Agroacom! There are many boiler room operations pumping people to buy PTSC.
http://portal.uspto.gov/external/portal/pair
.15! Ouch! At this rate .09 will arrive before the Shareholder meeting. Somebody knows something imo. The SHM location in Chicago smells of an attempt to make sure that PTSCs base of shareholders, which is local in CA, does not show up to ask the hard questions. If PTSC makes it and the shareholders get any benefit I will be very surprised. I still think that the BOD gets million dollar bonuses or positions in a future Baroni enterprise to sell PTSC to Baroni for peanuts. I can see the PPS dropping to .01-.03 pennies and the buyout price being .04 pennies..and it will be sold to shareholders as a huge premium.
One more thing-if the '336 survives this new reexam the litigants (or anyone) can keep filing them as long as they can come up with the $5,000 filing fee for the US Patent Office. The reexam "process" could conceivably use up the remaining life of the patents as well as the 5 year look back patent owners get after a patent has expired. I suspect this is the strategy. That is why I would not risk a large investment here. The recent Supreme Court KSR ruling alows an infinite combination of prior art to be used to defeat a patent. Just filing a reexam request takes many months for the patent office to look into. I expect we will see another reexam request soon just in case this latest one is dealt with quickly.
No pop! LOL. If PTSC succeeds it will be after the latest reexam is done (optimistically in 1-2 years) and then there is another 3-5 months to publish it then you have to present the arguments in court then...well you get the idea. Even if PTSC has the goods we are looking at another 3-5 years before PTSC sees any major license fees. I reduced my position from 250,000 shares to 5,000 because PTSC is burning through 1.5million a quarter and has only 6 million in funds. PTSC will have to issue more shares just to stay alive until the new reexam is done. I think there is a good chance they go bankrupt and shareholders get nothing or they sell out and shareholders get nothing. It is worth the $500 gamble I have with my 5000 shares bought at .09 though.
'336 recert? Old news.Use the pop to sell. This recert was started in 2006 and at the end of 2009 it is just now finished. I expect the new reexam will take another 3-5 years to complete.
Bring toilet paper.
.156 pennies. Bad news is pending IMO. PTSC never goes down before good news.
Sliding back to single pennies which should not have been unexpected given PTSCs history of disappointment and complete lack of transparency. I think those in the know are slowly selling off. I used to have 250,000 shares but the silence and lack of communication on the MMP ...only thing that generates revenue is telling. Just look at the 1 month chart. The trend is obvious. My 5,000 shares will go before it gets back to .09 pennies.
Although all publicly available information and past performance says PTSC is a loser I still have a small percentage of my shares left that were bought at .09. I will dump them as we seem to be drifting back down on an almost daily basis. I have not seen your informed rebuttal to any of my posts.
He is crazy if you have not already figured it out. Still having an investment in PTSC is also crazy imo.
Wolverine had $3-5million in sales/yr. so its a tiny company with about 15-30% profit margins (typical for the electronics/computer industry). They settled because the license fee was probably tiny given the fact that Samsung with several billion in revenue paid only $1.25 million. If you scale the license fee for Wolverines smaller size my guess is the license fee was sub $100,000 and the ongoing royalty was is in the low pennies or fractions of pennies. My guess is it was far cheaper for a small struggling company like Wolverine to be extorted to buy a license than to hire lawyers. EDIG and their lawyers are classic shakedown artists and the market is wise as there is no volume this am and minimal price movement.
Nick Tredenick is off the BOD.He was not on the list in the proxy of BOD members. This is very bad news for the MMP as he was the conduit between TPL and PTSC. He also added a lot of credibility.
http://www.sec.gov/Archives/edgar/data/836564/000101968709004450/patriot_def14a-012810.htm
New Director? Another 100k+ /yr out the window with nothing to show for it. A company that has virtually no sales bleeds 1-2million a quarter has another mouth to feed.
Cent- The Judge in the ACER litigation has already granted one stay pending a reexam result at the request of ACER and there is another one pending. This is not hypothetical.
On the bright side the USPTO could expedite the new reexam that was granted in Nov. and find that it has already addressed all the prior art patent references both independently and in various combinations and issue a NIRC (Notice of intent to issue a reexam certificate). The bureaucracy at the USPTO is so slow it actually takes 3 months after the NIRC is issued to issue the newly approved patent. We are still waiting for the USPTO to have the recently approved reexam published. PTSC does not have a lot of money and they have a $2 million a Q burn rate which they just claimed was reduced by 40% due to staff cuts and Lameter being closed. The patents must be valuable because 5 reexams have been filed just on the '336 with the 890 760 148 584 ( 584 recently survived 2 reexams with changes made to patented claims) also being challenged. I would be concerned the BOD would choose to sell out rather than wait to start collecting $15 million dollar settlements when the snail like USPTO gets done with us.
PTSC had very good patents but because the USPTO allows for unlimited reexaminations on the slightest of reasons which take 3-5 years (and often exhaust the patents valid life)their litigation with infringers has been tied up in knots. In recent filings those PTSC is trying to collect from say "Judge the USPTO has found valid reason to perform a reexam so lets hold up the trial" the reexam (actually 3 of them) is then completed (in 3 years) but the litigants file another reexam that was just granted and they say "oh Judge their is another reexam so lets just wait until its settled and we can proceed" and of course the Judge says yes. Since PTSC had to modify their patent claims the infringers do not have to pay for past infringement so settlements will be for almost no money if the litigation ever ends. The latest reexam should take another 3-5 years and PTSC will be out of money in 4 quarters with their 2 million a quarter burn rate. Patents will never make you wealthy unless you have 10-15 years and millions of dollars to spend trying to enforce them. Only the largest corporations can benefit from and enforce patents. The individual inventor or small company is dead if they are counting on intellectual property revenue. PTSC is in a near hopeless position. I expect the SHM meeting in Chicago is to announce a sale of the MMP to TPL and a sale of the PTSG/Crossflo business to Baroni. The board of directors will get a big bonus to sign on the dotted line and shareholders will get what is left...which will be nothing.
imo EDIG will never get through any USPTO patent reexam process or litigation which is inevitable if they ever want more than nuisance settlements. Just look at PTSC. PTSC had very good patents but because the USPTO allows for unlimited reexaminations on the slightest of reasons which take 3-5 years (and often exhaust the patents valid life)their litigation has been tied up in knots. In recent filings those PTSC is trying to collect from say "Judge the USPTO has found valid reason to perform a reexam so lets hold up the trial" the reexam (actually 3 of them) is then completed (in 3 years) but the litigants file another reexam that was just granted and they say "oh Judge their is another reexam so lets just wait until its settled and we can proceed" and of course the Judge says yes. Since PTSC had to modify their patent claims the infringers do not have to pay for past infringement so settlements will be for almost no money. Patents will never make you wealthy unless you have 10 years and millions of dollars to spend trying to enforce them. Only the largest corporations can benefit and enforce patents. The individual invent or small company is dead if they are counting on intellectual property revenue.
North American Airlines Who? They have 6 JETS! ROFLMAO! What a joke.
My point was insider sells often come in multiple filings. I would watch for more over the next few days.
Uh oh! Insider selling has begun with a key Director! If this is the tip of the iceberg its over. It is a bad sign when insiders sell. If there was anybody who would know the potential of PTSC its a director and if any good news was coming in the near term he would have waited to sell.
http://www.insidercow.com/forms/2009112/0001019687-09-004366.xml;jsessionid=2AAE27B47A8D2A506F16366069586C2D
I had a 250,000 share position which I mostly sold. I still have a small position (5,000) I bought at .09 just in case it works out. I will probably sell that as the price erodes. PTSC is worth an $800 investment but not what I had. A company that says it cannot comment at all on the only thing that generates any revenue, the MMP, cannot be trusted with a large investment. It is also apparent that the board of directors is useless and only interested in cashing their paychecks.
.172 pennies a share and dropping. It is possible PTSC may succeed but it cannot be determined from any of the information publicly available. From everything I have read PTSC is losing money every quarter and will run out at some point soon. I expect then Baroni will get a sweetheart deal on PTSC/Crossflo and TPL will get the MMP patents. The board of directors will get nice big bonus checks for supporting the move and the shareholders will get the shaft. TPL can then fight it out with the USPTO and litigants endless reexam petitions. It is very sad that it has come to this and it has become so obvious. Stick a fork in it already!
PTSC LOST $2 million last Q and has $8 million in assets (some of which is tied up in auction rate securities that are currently illiquid and PTSC is suing Deutch Bank to get back) . How long do you geniuses think they are going to last. Let me help you out 8 divided by 2 = 4 QUARTERS before they go belly up and that is IF the burn rate does not go up. .19 will be sadly missed as a great selling opportunity.
PTSC is about to collapse in the near future imo. The signings don't even pay for PTSCs overhead and most of their cash is tied up in the ARS (Auction Rate Securities) debacle. PTSC is in court with Deutch Bank trying to sue their money out of them. I think PTSC will attempt a desperation sale of their part of the MMP to TPL and PTSG to Baroni. Shareholders will be left holding an empty bag and management, Baroni, the liars, and the BOD will make out very well.
TPL/Alliacense did not even PR the most recent settlement. That is a sign is was very small and insignificant to the bottom line.
Probably $500k or less to PTSC on this settlement after the liars get their cut. The word is out and the market knows the settlements are for peanuts therefore the shareprice will not move. If there were 5 settlements announced tomorrow it would move the PPS up 2c and then down 2c by the days end.
HRH- That is my theory as well on why the PPS has not tanked...the only ones left holding share are the hopelessly deluded longs. I actually still have shares which are mostly underwater. I just held on from 2000 because I have not had any major gains to use the EDIG loss on. I hope management gets hammered today at the SHM. I would not last 5 minutes on Agroacon with my attitude.
arkie-Same old song and dance.EDIG Mgt.cant be honest because they would have to tell shareholders that the patents will only provide enough money for their lawyers and to pay EDIG management and the BOD salaries. There is not much left after that to help increase the PPS. The market has figured it out and only 100 shares have traded today which were probably bought by a current EDIG shareholder. The idea of any success that will improve the PPS from the "EVU" player is absurd. They will never see any large volume sales in that area and certainly not enough to help the share price. IFE is a tiny niche market. Also, EDIG will not announce anything at the shareholder meeting that is not already in a PR because it would violate SEC regs on disclosure. I hope some non-deluded shareholders read them the riot act but sadly most of the attendees are from the Agoracon board.
If there is any value in the MMP I am sure the board of directors will sell the company out from under the shareholders. The shareholders have always been considered a hassle by the BOD. I think a deal to take PTSC private would probably result in a 10-15% premium over the share price.
The Agoracon board is truly sad. EDIG Mgt. wont even give them a straight answer to the question "is the Samsung license fee in the Q2 report". How pathetic that they rely on the ambiguity to retain shareholders. I think they are just looking for an ongoing paycheck over at EDIG because they will never get new serious shareholders when they cannot answer a straight question. This has been EDIGs MO for a decade. I am thrilled that they will get hammered by shareholders in person this Thursday. I wonder if they will not allow for shareholder questions? It is harder to weasel your way out of answering questions face to face.
It is amazing the PPS is not lower! I guess people are either deluded or in denial. I also think nobody gives a darn about this POS company and only the true hard core suckers are left who will no sell.
Excellent! I was able to sell of 100k of my shares at .17c. Better get out soon this golden opportunity to get out above .10c will be gone soon. The bid has dropped to .16c. and the sells are piling up.
I had a hard time believing it.All this hoopla over patent license fees when they only seem to result in enough revenue to keep this sham company paying its people big salaries. I still have my Odyssey 200 player! LOL! I used it today. The optimists over at Agoracon are trying to console themselves by hoping the cross-licensing of some of Samsungs patents will be somehow meaningful. I guess you could believe that if you thought EDIG would make it in the brutally competitive economies of scale and mass marketing world of consumer electronics. I don't think management is competent at all in executing a business plan and thought their only chance was the value of the patents. The only reason this had a chance at success was EDIG management had outsourced it to their lawyers. Apparently it will only result in enough revenue to string suckers along.
24601- The Samsung PR said it was a 1 time license fee and e-mails to Management said Samsung was included in the quarter and the 10Q said all seven settlements have been paid minus Vivitar which was dropped due to its bankruptcy. I think its over for EDIG. Also, EDIGs lawyers moved the case to Colorado. It might be because the Samsung case showed EDIGs weak hand or it might be because there is a 3 year wait because the Judges that handle patent cases in that district are backed-up (according to an IP Journal I read). I expect Nokia will make mincemeat out of EDIG like Samsung did this will all be over soon. Samsung's license fee will be as easy for the current defendants to figure out as it is for us since it was the only one reported in the quarter. If Samsung paid 1.25 million (EDIG gets 60% of that after lawyers cut then lawyers fees have to be deducted from EDIGs 60% as well) then any future settlements will be based on that. A small or medium sized company (and they are all small next to Samsung) might then pay $50,000 to make EDIGs lawyers go away. Its like medical malpractice law. The defendants know it is cheaper to give EDIG a pittance than pay their lawyers and its a tax write off as a business expense. The Agoracons are of 2 schools on the quarter report the first in in denial as you are 24601 and the rest think there must be something more. I am sorry there is not. There is a consolation and that is at least Management will have to face angry shareholders with pitch forks in person at the shareholder meeting on Thursday the 19th. Also, kudos to EDIG for manning up and not releasing the news on a Friday PM to save the share price from tanking.
EDIG has to report all settlements as gross income and the cut to DM is recorded as a disbursement (expense). I believe it is a 60/40 split. There is almost no way an idea as obvious as pairing flash with a recording device in lieu of magnetic tape of a hard disc is be able to remain patented. Samsung must have had EDIG by the short hairs. A company with as many resources as Samsung could have tied EDIG up in litigation and patent office reexams for 5-10 years....even if EDIG was right. You cannot win against large companies when you have limited resources. Samsung could have held out until EDIG went bankrupt and none of the pump a dump scam opportunities at extortion would have gone anywhere with the next "round" or litigants. To keep this scam alive EDIG had to settle. I would recommend selling in the am or ASAP.
Management said the money would be in this quarters report. It is hard to accept but EDIGs patents just are not worth much. I also expect reexaminations because the '774 patent certainly seems obvious in that it pairs flash memory with a recording device rather than an audio tape. Using flash memory is certainly an obvious replacement for magnetic tape. Reexams only cost about 5k in filing fees to the USPTO and are very easily obtained. The Polis brothers own about 25 million shares of this pig and I expect them to use it as a pump and dump. This questionable patent litigation and the expectations it sets up is the pump. I would expect them to be periodically dumping into fools high expectations. Looks like Cassandra nailed it she did miss on Wencor though.