"There seems to be a lot of discussion about bankruptcy lately; I think such talk is premature."
Since PTOI was largely financed by equity and the only significant debt is from Mr. Heddle which isn't due for another four years, I would say the chances of PTOI being forced into bankruptcy by anyone outside the company are virtually nil. The only way PTOI is going to go bankrupt is if Mr. Bordynuik and Mr. Heddle decide they want to take the company into bankruptcy.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.