Guess you didn`t get the full gist of my post. IMO nobody would have to file anything - the limitation on S&L is already disclosed in the filing containing the agreement. They (anybody) shouldn`t have to do a filing to disclose that they (S&L) are acting in compliance with the agreement. Such action is expected.

Along these lines, I doubt PTSC would have to do a filing to diclose when they actually commence a share buy-back. They have already stated their intent to do so in a public forum. Such action is expected.

As to whether a buy-back has already commenced; I kinda doubt it if for no other reason than they (after the last divy) had little cash on hand and probably have not yet received their cut on these last three licenses.

But I KNOW nuttin`!

SGE