Le Lézard
Classified in: Business
Subject: LAW

Second Letter to Shareholders of Productivity Technologies Corp. from Jesse Levine (OTC: PRAC)

FENTON, Mich., Oct. 6, 2017 /PRNewswire/ --


We are in the process of setting up a website to help communicate with PTC shareholders:  www.OptimizePTC.com

One objective of this website will be to keep PTC shareholders informed about the litigation with PTC and Atlas. The website also will include forms that can be filled out by 1% and greater shareholders to request certain records regarding PTC and Atlas that we receive. 

We also intend for the website to inform PTC shareholders about our strategies and efforts for obtaining a near term financial return for PTC shareholders and changing the course of PTC and Atlas.

For instance, we think the controlling directors of PTC (Messrs. Seidman and Stupay) should immediately outline a program for PTC to pay quarterly dividends starting with the September 30 quarter just ended.

Messrs. Seidman and Stupay should also immediately present a full and clear statement of the business and condition of PTC. Given Mr. Seidman is executive chairman of both PTC and Atlas, this statement should include how often he and Mr. Stupay are visiting current and potential new customers. If they are unwilling or unable to do so, we think this is relevant for PTC shareholders.

We believe Atlas is focused on low margin and difficult to sell products with long-term warranty costs, and Messrs. Seidman and Stupay are resistant to modernizing Atlas. We would seek for PTC to invest in designing high-margin products which can be predictably and consistently sold.  We may use www.OptimizePTC.com to discuss higher-margin product potentials.  

We expect to intensify efforts to change the direction of PTC and seek to mobilize a working group comprised of major PTC shareholders.  Our efforts may include initiatives to deal with the current controlling directors which we believe are not acting in the best interests of PTC shareholders. We have started considering how both PTC shareholders and third parties could assist efforts to increase the value of PTC shares.   

We also believe Atlas' factory could be monetized in one or a number of ways to extract value for PTC shareholders within a short period of time, and will soon begin discussions with local real estate professionals to assess the current value of Atlas' production facility.

We appreciate statements of support received since our last letter to you.  We plan to continue updating you regarding our efforts to increase the value of PTC shares. 

Note: The above may include predictions or other information that might be considered forward-looking. While these statements represent our current judgments on what the future may hold, these are subject to risks and uncertainties and actual future results could differ materially.  You are cautioned to not unduly rely on forward-looking statements, which reflect our opinions only as of today's date.  While we will make reasonable efforts to do so, please keep in mind we are not obligating ourselves to revise or publicly release revisions to these forward-looking statements due to new information or future events



SOURCE Jesse Levine, an individual

These press releases may also interest you

at 20:00
Pomerantz LLP announces that a class action lawsuit has been filed against Genocea Biosciences, Inc. ("Genocea" or the "Company") and certain of its officers.   The class action, filed in United States District Court, for the District of...

at 16:33
CalAtlantic Homes, one of the nation's largest homebuilders, today announced the debut of nine new home designs at Windsor Ridge in Joliet, IL. The public is invited to tour the stunning new model home and experience the thoughtful design details and...

at 13:07
CalAtlantic Homes, one of the nation's largest homebuilders, today announced the Grand Opening of Bluewood, the first master-planned community in the Celina Independent School District offering both high-end neighborhood amenities and an on-site...

at 12:48
Fred Jordan Missions is bringing Christmas to thousands of impoverished inner city children who will receive toys at Los Angeles' largest Christmas Toy Party Saturday, December 16 from 10:00am to 3:00pm.  Some of the toys that will be distributed...

at 12:46
CalAtlantic Homes, one of the nation's largest homebuilders, has announced the debut of Pescara, an enclave of 46 homes located within a gated community, just minutes from one of metro Phoenix's most vibrant employment corridors. Home shoppers can...

at 11:32
Today the Coalition for Competitive Insurance Rates (CCIR), the leading voice for continued and increased competition within the insurance industry, expressed disappointment in the House-Senate Conference Agreement for H.R. 1, the "Tax Cuts and Jobs...

News published on 6 october 2017 at 15:26 and distributed by: