Agoracom

The day after the resignation of our REP is the day, where I'm still awaiting some answers from him here on this board. As he has stated, he will gone try to explain some urgent issues this week here on this board like

-the relationsship between the ARS decision and the dividend policy

-and how an eroding share price will lead to a further dilution

After reading some of his postings, I really ask myself, what of his arguments offered by him here on this board is based on facts and what is based on his own conspiracy theories? What is his opinion or speculation and what is the truth?

As I believe, that he don't know much more than the average shareholder about the critical processes of PTSC and TPL, I again have to ask, what were his motives to post negative and/or fearful thoughts about

-the Turley Presentation?

-the current CFO (IMHO he is not responsible for the ARS decision)?

-his anticipation about a deeper material connections between CJ and ES and some possible negative influences for the shareholders from this additional connections?

-the late introduction of the share buy back programm?

-how the PDS Agreement in his opinion obesses PTSC to find a better way of communication with the shareholders?

-his opinion, that nothing more from the business resolution is to be expected according to his interpretation of the quarterly results?

I know from the past, that the REP was fighting very hard for his rights and for the shareholders in the phase, where he was "only" a shareholder and he allways wanted the company to take the best possible route to success. Some of the early investors then had to recognize, that he didn't post anymore his sometimes damned uncomfortable comments about some actions of the company after PTSC decided to make him a REP of the shareholders. Some Agora posters said, that he could not post anymore on this board because of an NDA with the company.

During his very long quiet period on this board, in which his real role for the average shareholder was invisible, the company had some major events like the signings of the first major companies, the first dividends, the S+L dilution, the positive Markman Ruling, ongoing signings, new board members etc.

So I've to ask again: What were the motives for his latest postings? Was the NDA between him and the company still effective, when he started his latest postings before his resignation? What were his motives? Frustration? Fear? Knowledge? Speculation? The wish, that the company should be able to buy as much shares as needed to control the majority? To inform shareholders about something they don't know?

One thing is for sure. The average shareholder is confused by reading this kind of stuff from his REP. Some new investors will not invest in PTSC after reading this kind of critical statements from a former REP. Hedgefunds, Shortseller and others will take advantage of this kind of offered theories knowing, that the average shareholder and investor will loose more and more confidence.

And that's the very least perception one could have expected from an intelligent REP like our former REP.

Waiting for additional answers I wish you and your family the very best biaji and thanks for what you have done for the shareholders, allthough we do not know much about that.

PA