Just to on refocus what HAS been accomplished in the last 3 years I thought I'd post this:

Since February of 2005 when AMD signed up through what we DEFINITELY KNOW as far as signing values, which is through the American Power Conversion signing on September 10, 2007, the MMP Portfolio has had 24 licensees who have paid:

These are all known declared verifiable fees as filed in PTSC's SEC docs.    That is roughly $8.2M per license.  Of that, expenses for the licensing process are taken out, and then TPL/PTSC split the remaining profits 50/50.

So, roughly, (without going back and checking exactly) allowing a conservative 10% for expesnses, PTSC has received in less than 2 years and 8 months approximately

Which equates to $3.7M per license and $2.8M per month in revenues.

Moving forward, since the last KNOWN licnese fee amount, in the ast 3 1/2 months, PTSC/TPL have signed an additional 10 licencees, and settled it's major patent infringement litigation with the remaining Japanese companies Toshiba, Matsushita and portions of NEC.  Even at just the average license signing amounts, that's an additional $37M to PTSC's balance sheet.  More than likely, that's low, but attributing just the average, that's now over $10M per month in income to PTSC.

If you want to be conservative, you can assume that PTSC will continue with monthly income at a pace lower than the recent $10M plus and just use the $2.8M.  That would equate to an income stream of $33.6M per year in MMP licensing alone.

So on a P/E of 16 that Yahoo shows for the 12 trailing months, $33.6M x 16 = $537.6M divided by 391M shares = $1.37/ sh. 

This is using just the numbers that we can confirm have happenned and assuming that they will continue.  Seems to be a safe assumption considering the license signing pace has increased more than 3-fold in the last 3 months. Obviously, the market doesn't see this yet.  I thinik once these SEC filings like the next 10q and the one after that are released, the market will no longer be able to ignore it.