I am just now getting back in here reviewing messages. I will answer in reverse order because I drive better in reverse (he!, he!)

para 3. I am sure TPL would not withhold any signings at any time or they would be stepping way outside the agreement. What they easily could do under the agreement is request that PTSC not publish the results of any signings. When the money is collected, I assume it is placed in the coffers of Phoenix Digital and should be accounted for in the balance sheet. I think if this info does not show up on the balance sheet, we have no more signings. However.  The SEC requires that all money collected show up on the balance sheet but the end date is ??? not sure, June 30, May 31. The 10k may not require events i.e. licenses to be reported after the last day of the annual report. Another words"I swear to tell the whole truth and nothing but" may not apply to financial activities after 10K. Therefore, signings last month would not have to be reported.

para2. very interesting point. No one but the SEC. Uh, OH! This requires an SEC investigation! No, not really, at least I hope not really. Excellent point, Larry. Legal question beyond my scope.

para 1. Smells like Enron.

Cheers, Oscar