Monday, November 15, 2010 4:29:45 AM
relationship with ThinLine and addresses its "70% ownership". Raj Kalra, CEO of
PTSH explains, "PTSH purchased my 70% ownership of ThinLine in a Share Exchange
Agreement last week. In exchange of my 70% ownership I received restricted
shares of PTSH stock. ThinLine has two owners, PTSH (70%) and a second party
(30%). ThinLine is a subsidiary of PTSH, owning 70% therefore shall receive 70%
of the profits. In respect to why the deal won't close until December 31, 2010
is due to two factors: 1) ThinLine has approx 70 days to complete SEC audits
and; 2) PTSH has its year end 12/31/10, and it makes for easier accounting. For
all intensive purposes it is business as usual for PTSH and ThinLine since the
merger.
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