IMO yesterday’s trading blew away the technical indicators because we should have had some resistance at the .82 level and the fact that we did not, brings to mind a coined statement, “irrational exuberance”. 

For what it is worth, and I am not a lawyer, I believe those who are blaming PTSC management for this correction in the share price have it all wrong.  I believe that the settlement is not a win for PTSC and it will not be until we have a decision in our favor regarding the indisputable validity of the patents.  I think the mistake was that TPL agreed to a settlement giving the defendants the right to sue and recover in case of an adverse decision regarding the validity of the patents.  I also believe, with the strong Markman rulings in PTSC’s favor, we would have won the court case and the whole thing would have been settled in January. Undoubtedly, it would have been appealed if we don’t have a patentent decision by that time, but I think a win would have also strengthened our case with the USPTO and probably have resulted in a larger settlement.

Also, I believe we just made getting additional licensee more difficult.  Undoubtedly, PTSC had some input regarding the decision but TPL had the total authority for making the decision and must bear the total responsibility.

The question now is do we continue to sign licensees giving them the same right to recover or do we do nothing until we hear from the patent office regarding the contested validity of the patents.

What I am saying is that I don’t believe we can hold PTSC management responsible for what has happened in the past two days and I am not sure they can do anything about the current share price.  I think we will eventually win but not having an idea as to when the patent decision will come down, we don’t know when to schedule the celebration. 

Maybe bartender will give us a reservation for the party contingent on the decision date.  Undoubtedly, his Christmas rush will be over by that time and we can have the whole place for the party.

This is just my opinion and corrections are welcome.