Any broker that would not want his clients to invest in such a company is not a broker I would ask advice from. JMHO

Without knowing the royalty rate that would be charged for subsequent licenses, be it single payments or ongoing, it is still a gamble. There is NO WAY to predict future revenues. This is a problem for both brokers and institutional investors which needs to be addressed by TPL eg with a predicted annual growth rate of 8% for 2008, on microprocessors, and the MMP Portfolio covering 95% of the market @ 1% royalty, an investment decision becomes easier to propose/make. This is what gives ARM it's current p/e ratio.

Be well