Purely speculation on my part based on past occurrences:

Formation of PDS – Yes, from an accounting standpoint we needed to create this separate entity since the MMP is owned jointly, but it also makes the MMP easy to divest.

Aggressive ramping up of TPL – These guys are building a real company, one that I am quite jealous of to say the least, and I can’t imagine that they want to continue licensing the MMP, when they can take a lump sum today and focus on the development and marketing of their products. Also, if we sell the MMP, they already have the licensing model in place, so maybe they still play a part in the licensing efforts with the acquirer of the MMP going forward. Lastly, Leckrone Senior is no spring chicken.

Turley and Nick Tredennick join the company – I doubt these two joined PTSC wanting to be in the business of licensing IP. From what I have read about these two, they are more the incubator type. IMO, they want seed money and lots of it to build and market a product, either organically or through acquisition.

Master Agreement – TPL runs the show. IMO, from what I have seen at the SHM, and read on this board, TPL and PTSC management are not the best of friends. I doubt PTSC and TPL want to be working together for years to come. The only counter to this assessment could be that Nick seems to be tied to TPL.

Again, this is all purely speculation on my part, and is worth absolutely nothing. I am OK with the MMP being taken out today if the $$ is right, or I am happy to watch the $$ train come in over the next several years as we license companies. Either way works for me as long as the shareholders get what we deserve, steady constant appreciation of share price. Good luck to you, me, us, and all longs.