Hi There, been reading all the posts for wks. Been watching this stock since it came out last November. Had to jump in now.

Just like the rest of the oil/gas sector, PSN was hit by cuts to capital budgets in the oil /gas sector (started last fall remember ng under $3). Frackers, drillers, and fluid solutions services alike: slow, no, or half pay coming out of the development companies while they attract customers with new or larger dividends to keep up their stock price until they can refinance off the market because the industry is running on fumes.  Does this sound close to home? This management weathered the storm well.

So one account went bankrupt for 9.5 mil. What 5% of sales went bad. I allow 8% per year in my own business and hope I won't need it. Dam, too bad it brought attention to the poor A/R thats been getting worse for over a year.

So what about the management of this company? Are a team of seasoned professionals really stupid? They have been running with tons of cash all year over 150 million in financing plus what has been dribbling in every month from accounts (7 to 10 million a month to pay shareholders). Last December they posted that they had leased approx. 170  of the 200 tanks they had built. Since then, no more tanks rented statements. Oh yes they did say they had them deployed all over the US states. In yards ready for action? Revenue stayed the same for the first three quarters of the year while they built 200 more tanks. What, If they rented more tanks during this period wouldn't revenue go up significantly even if some tanks were retired.

Declare the dividend and hope A/R improves. Too bad the adjustment to sales from the bankruptcy brought fast attention to the A/R. Did you do your due diligence before you sold your shares gave more cash to the lawyers. Do you think you can recover one billion in capital from a company worth less than 100 million net.

Didn't they say they were going to build 300 more tanks? Just how many volcano heaters are there? New revenue stream to work with. Wow.  PSN bankrupt, that would prove management stupid or would it?

So its January 2013.  New capital budgets in the oil plays. Even with Natural gas wells capped, oil wells produce a large percentage of gas in North America. Just announced the environmentalists lost in the courts in Europe to stop fracking. Too bad. $9 Russian natural gas price. Send all the NG rigs and frackers to Europe? Good play for PSN in 6 to 12 Months. PSN has the best record for the environment. Europe here cmes this management. Has management been buying stock at this price?