I too believe the figure will be around $50M (much less, and I'll be very disappointed). But we should keep in mind that NEC suffered a MAJOR expense - legal fees to date. They could be equal to or more than the amount for settlement. They get to eat that expense.

Back to the dollars to us: there have been many times recently where I thought to myself, "ya know, if just one more, like maybe NEC, would just settle now, the dam would break open". I imagined a PPS run to $5+, pulling some money off the table, and watching the rest of the game with no worries.

Well, NEC did settle, and the only thing I got was that last thing - no worries. Thus, I feel much more comfortable today than I did just a few days ago.

I accept the proposition that S&L are taking every opportunity to sell shares on the open market to enable the conversion of more warrants. When there is heavy demand, they dump. When demand is light, they lighten up - though drag us down occasionally. But I believe it is a necessary evil for the greater long-term good. And when the conversions are complete, resistance will be virtually non-existant.

IMO, this NEC settlement is so huge! Just think what it does to the remaining J2/ARM. Let's see, NEC saw virtually everything; the evidence from both sides disclosed to date (a very late date), the litigation strategy, and the ultimate RISK. So they PAY some $50M maybe, and maybe that much again in legal costs. Still a big ouch when the alternative could have been to let the chips fall (a pun!), possibly prevail, owe nothing, and have legal fees covered by the opposition. The risk must have appeared to be overwhelming. And the others watch!

And then there's the Markman.... "Step up boys! Hey, where are all the rest of guys? You know, (Sony,) Fujitsu, and NEC? Oh, they all settled? And at very reasonable amounts? They (TPL) have a willingness to negotiate and demonstrated reasonableness? And the amounts paid, on average, were far less than you've probably already paid in legal expenses? Tell me again, why are you here? I mean, I really don't like having stupid people in my courtroom." Maybe it won't "get said", but these thoughts would pass through any reasonable person's mind. Toshiba and Matsushita's attorney's have got to be relishing the thought of stepping before the Judge so they can look stupid, or like shiesters milking the big bad infringer.

Sorry for going off a little there, but needless to say, our litigation position IMO has just about max'd. Now if the J2 fold (or just one of 'em)....and the pressure has really got to be on. And if they both fold, ARM the lone survivor for the Markman. Take my above "fantasy quote" and exagerate it even more!

So IMO, we're sittin' mighty pretty. Let those warrants evaporate, then our world will change.

And don't go gettin' all optimistic on me, for I KNOW nuttin'!

SGE