Some hopeHi all. Long-time PTQ holder, first time PTQ commentor here. Given the halt yesterday I have reached out to auditor friends for opinions, as well as went back on some of my notes taken from chatting with Greg over the past couple years. Here are some factual points:
1. Greg owns over 7 million shares + options. He takes a salary of roughly $425k, meaning this $14 million dollar equity stake is substaintial. He also participated in the last financing round (800k shares) and exercised options recently without selling the stock.
2. There was 3 acquisitions done over their fiscal year, with an additional large one post September, and yet another in the process of closing. Consolidating results can be tedious, especially if the businesses acquired were small family practices.
3. Uplisting also requires additional information, and a more intense auditing. PTQ is going from the venture to NASDAQ, a large step. This takes extra effort (an opinion from an auditor).
4. I have recieved an Initial Listing Guide for the NASDAQ (Dec. 2020) covering processes and timelines. From the initial application it can take 4 - 6 weeks. One requirement is that the bid price needs to be $4. Therefore expect a share consolidation, which again could slow things down.
5. CIT provided credit facilities in September. I am sure they took a good look 'under the hood' prior to giving $20 million (my opinion). MNP is PTQ's auditor. Not a fly-by-night firm.
It's quite annoying that there has been no investor updates given. Looking back at these points though I feel somewhat relieved, but in reality there's not much we can do until the halt is lifted anyways. Just hope this calms some nerves for now. A nice beer works too.
Looking forward to contributing more!