This excerpt taken from the PBY 8-K filed Aug 15, 2006.
Strategic Review Process
The Company today also announced the conclusion of its strategic review process with Goldman Sachs & Co. While the process produced interest from a number of potential investors, at this time the Board of Directors believes that any strategic or financial alternatives will be more profitably revisited when the Companys operating results have improved. The Board will continue to review opportunities as they arise, but expects to focus on ensuring that the Companys operating results reflect the Companys potential.