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Tel, Did not say they were 18 CONSECUTIVE losing quarters, but if you look at the last 5 years you will see there are 18 quarters with a net loss, negative EPS, and negative N.I.The secondary was joke and diluted the stock at the expense of retail investors like you. Kaiser and Co came out great. The lack of transparency on deferred revenue or holdback...can be a simple fix, with a line item or two. But PAL management elects not to.The last CC by Excel was a farce, he was so unprepared and lack of grasp of data points and strategy. He really came across poorly.If you spport the compnay GREAT but it is hard to read your artricles that question their accounting methods and then see you spport them so strongly. Does not add up...Your underlying thesis with PD makes sense and very logical but you lose me with the strong support of PAL..