The TPL perspective can easily be argued either way. If I were TPL, engaged (supposedly) in negotiations with ``dozens`` of companies, I doubt that I`d want the numbers for recent settlements hanging out for all to see, extrapolate, etc. This is especially true recognizing that they`re supposedly pressing for more money with each progressive settlement, and more so if the recent settlements weren`t all that big. What if they only got say $30M total out of the last four settlements (i.e., it was obvious that Sony got off on the cheap - very cheap)? Then company XYZ, currently in negotiations recognizes that Sony couldn`t have possibly paid more than $15M. Company XYZ would ask ``why are you trying to hit me for $30M when my company is 1/50th the size of Sony?``. Negotiations stall....

I agree that TPL probably has tons of shares, and may still be accumulating. THAT`s money in the bank. They KNOW the PPS will eventually move up dramatically and they`ll get their pay day. But in the instant situation (NOW) it isn`t to their advantage to expose any numbers, period (unless they happen to be enormous, which I doubt considering TPL`s prior ties to Sony). They are almost certainly taking the long view, and with that view the current negotiations are the focus - the PTSC PPS will take care of itself. And the more effective they are in current negotiations, the better the long term prospect.

When in negotiations, having a clue re: your opposition`s target numbers is golden. I recall one of my first negotiations with reps for the US Navy way back in the early `80s, when I was still a puppy and my eyes were sharp, and I could read up-side-down. There we were at the table. I look across and read the sheet of paper in front of the opposition, and there they were. Negotiations were brief, and we got better than our target, and surprise surprise, the Navy got us for their high end, not to exceed target.

Eventually, the numbers will be disclosed in PTSC`s financials. Until then, I`d ride the blind train.

Just another possible strategy....

BTW, please remind me, when are PTSC`s next financials due? Mid-August at the latest? And wouldn`t you think that, considering the simplicity of the necessary accounting and audit in PTSC`s circumstance, they could beat that date by several weeks? - unless TPL pushes them to hold to the last possible day. In any case, the window of number blindness is relatively small (though I realize the latest deals won`t be in those numbers - ahhh, a longer wait.).

Don`t get me wrong. As a PTSC shareholder, I want the numbers out NOW (assuming they are reasonably good).

And I KNOW nuttin`!

SGE