While it is cerrtainly possible that there is some sort of buyout scenario out there, I really doubt that our seemingly held down PPS is a real clue.

Now, I say it's possible, and I agree that any such move would have to envolve TPL, but necessarily in the capacity some depict. They don't have to be the buyer, and IMO probably wouldn't/couldn't. But the Master Agreement (MA) provisions could be modified to the parties' mutual wishes at any time. If the proposed buyer offers something that TPL wants, and if PTSC wanted to "let go", it could happen. For TPL, the benefit could be some consideration$ for releasing PTSC from the MA, and maybe a more desireable "partner" in the licensing and maybe even other enterprize.

Having said that, please consider what TPL would be giving up if another (presumeably powerful) entity took over PTSC. CONTROL. First, do ya think some megabuck company (which it would almost have to be) would agree to relinquish virtually all control to TPL? Do you think TPL would be interested in relinquishing its control of the licensing effort? I find an answer "yes" to either of these questions a bit difficult to achieve.

As for the down right depressing PPS, I still believe it has to do with two things: perceived risk and Swartz - the two primary influences all along. I saw nothing in the 10Q about Swartz's current holdings. But we know he/S&L have sold in the past, and may be still. Some may yell "warrants", but unless they were about to expire, they were as good as shares. So, IMO, alot of what we continue to experience is a continuing theme of Swartz dumping - which I find very disappointing - but ultimately understandable and desireable for longs.

I do not really get why there continues to apparently be so much perceived risk. We've overcome every hurdle that has come along, or continue to be in the midst of the fight (USPTO). And we've got a long list of impressive licensees, a lot of money in the bank, and capable people seeking out acquisitions. But what is the real risk, especially short term? I honestly don't see it.

It's probably because I KNOW nuttin'!

SGE