Subject: RE: Shareholder meeting
From banks50
PostID 396120 On Thursday, April 14, 2005 (EST) at 7:35:04 PM
Response To: hitemp PostID 396115
--------------------------------------------------
Ms. Felcyn was the secretary, Lowell reported that all inititives
passed. Proxy voting was 78% of registered votes, so approx 205
Mil votes were counted, and 64 Mil didn't vote. 186 Mil votes in
favor of the additional 100 Mil shares. The lowest vote count in
support of any BOD member was 190 Mil. Presentation portion lasted
just over 1 hour. Questions consumed the last hour, and I am
grateful to management for scheduling enough time for them.
Look for slides on the company website, that showed the outline of
the meeting.
Litigation... C. Johnston will be the interim Attorney answering on
the 22nd, until new counsel is selected. They did not want to
discuss any litigation issues as they felt it would not be wise.
BTW, I understood that Mr. Leckorne was in attendence at the
Meeting. We may hear in about 30 days the status of B&O on the
other cases of which they are Attorneys of Record (Intel and the
Japanese 5), this with regards any rights or obligations of B&O from
future settlements, or their continued representation in the other
matters. Mr Johnston also indicated we are pursuing a clarification
of the latest Court Order (presumably for what evidence can and
cannot be utilized in the litigation going forward).
Sales...We have Ignite sales representitives. I was busy asking
other questions and was not able to followup on this revelation, nor
was it expanded upon. We are in discussions with 7 firms on
Licensing; no exactness of the level of ''Discussion'' was offered
when asked. There is Canadian interest, Chinese interest (China
card individual who was a principal in the announced PR recently
passed away) remains. There is interest in our new ''Charging''
technology. Pat Nunnley gave a good presentation on Inflame, said
it was similiar to the ''Cell''. Pat showed diagrams in Ignite,
Inflame and the Charging technology and how it could be utilized,
and how we were superior due to the Core of our technology. They
want to Benchmark INFLAME. Mr. Don Breneir still has a
nonexclusive right to represent Ignite to the Automotive industry
in the USA.
AMD... a Robert Ober from AMD in San Jose spoke on AMD a bit. A
generic short show and tell on AMD really, although he did that that
although they do not have present interest in utilizing our patents,
the company engineering teams have been made aware of it and may in
the future.
THE BOD and Management (excluding Dr. Falk) was exposed for not
owning shares and collectively only owning about $30,000 worth of
stock. One Shareholder described the BOD as Club like; with
additional none PTSC ties among the members. Lowell said PTSC wants
to get the Investment community interested in buying shares, to
which it was said that Retail can't even get the BOD and Management
to buy shares; so why would large investors, and how must that look
to the Investment community ? Lowell said we were under valued at
10 cents. Lowell said we are at the point when some in management
are considering buying shares. The BOD was requested to expand
itself to the 7 members the Charter allowed, to get someone from
business and especially the technology arena on it. Lowell was
asked about buying back shares said that he found that as a Delaware
Company they could not buy shares from the public float (that was
new to me..??). One question was asked about the Preferred Shares,
and would management consider folding the Warranted Shares into
Preferreds, or using them in some fashion like that. No Preferreds
have been issued as of yet, nor are being considered. When asked,
Lowell said the BOD will most likely not select a Chairman of the
Board. Lowell said (when asked) that the additional shares beyond
what we were committed to providing from the new 100 Mil, was to be
used as Employee Options plans and for Treasure stock.
One Shareholder asked about Reverse Splits, and that at some point
it might be acceptable and beneficial. Lowell discussed it, said
not considering it at this time. Other Shareholders said to give
the stock more time before considering doing that.
About 75 shareholders attended, refreshments were provided and the
uniformed wearing, badge hanging, gun toting security guard made
himself easily visible the entire time.
FWIW, I had a chance to chat with all the BOD members as well as
Lowell and Jeff... They conducted an organized and friendly
Shareholder Annual meeting.. Lowell said they would see us again in
12-16 months.
Corrections welcome, taken from my recollection of events.
--- In PTSC_Investors@yahoogroups.com, ''limerickhook''
< limerickhook@o...> wrote:
>
> Hopefully you guys can remember all the pertinent info from
management
> so you can relate it to the unfortunate individuals like myself
who
> could not attend. Give 'em hell.
>
> Ryan
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