Ren,
You wrote: "The only thing that bothers me is that so many other pinks provide so much less information that PBLS and yet they trade at a multiple."
I agree, very frustrating. The answer is to get off the pinks. However, they told us they were going to do that and then did not follow through. They could have at least followed through on providing audited financials.
You also wrote: "But I also want to say that the way we treat them based upon our expectations is unrealistic and unfair most of the time."
Our expectations? Were we not led to believe, either via PR's or direct contact, that they had the same expectations? Are we not, at least partially, asking for them to meet the expectations that they set for themselves? And if they can't, to explain why not? Doing so helps them, not hurts them.
Finally, I have repeatedly expressed my amazement at what Paul and Ron have done in 2 years. Utterly amazing. Given that, it seems terrible to not fully reap the benefit of what they have accomplished. As always, I'm holding 'till the fat lady (or man, lol) sings.
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