Excellent post. You summed up a post I had been working on, but much more succinctly. Thanks. I would only add as a point of additional clarification that, IMO, PTSC would have used the 7.01 section rather than the 8.01 section had the press releases about the settlements not already been published. Since the press releases already satisfied the Reg FD requirements of releasing "Material Non-Public" information, the use of the 8.01 section indicates that this is a optional filing to disclose the Reg FD info. Sort of a re-emphasis by PTSC.

The Reg FD requirements also deal with insider trading when there is material non-public information available and I agree that's why that part was included in JT's note.

The only issue in your post that I disagree on (I'm probably nitpicking) and that causes me that last little bit of lingering doubt is that the SEC's Final Rule for 8-K's references the definitions in Regulation S-K Item 601 regarding materiality which DO have some trigger threshholds for materiality. Below is what that states in the instructions as found here:

http://www.law.uc.edu/CCL/regS-K/SK6...

i. Material contracts.

1. Every contract not made in the ordinary course of business which is material to the registrant and is to be performed in whole or in part at or after the filing of the registration statement or report or was entered into not more than two years before such filing. Only contracts need be filed as to which the registrant or subsidiary of the registrant is a party or has succeeded to a party by assumption or assignment or in which the registrant or such subsidiary has a beneficial interest.

2. If the contract is such as ordinarily accompanies the kind of business conducted by the registrant and its subsidiaries, it will be deemed to have been made in the ordinary course of business and need not be filed unless it falls within one or more of the following categories, in which case it shall be filed except where immaterial in amount or significance:

a. Any contract to which directors, officers, promoters, voting trustees, security holders named in the registration statement or report, or underwriters are parties other than contracts involving only the purchase or sale of current assets having a determinable market price, at such market price;

b. Any contract upon which the registrant's business is substantially dependent, as in the case of continuing contracts to sell the major part of registrant's products or services or to purchase the major part of registrant's requirements of goods, services or raw materials or any franchise or license or other agreement to use a patent, formula, trade secret, process or trade name upon which registrant's business depends to a material extent;

c. Any contract calling for the acquisition or sale of any property, plant or equipment for a consideration exceeding 15 percent of such fixed assets of the registrant on a consolidated basis; or

d. Any material lease under which a part of the property described in the registration statement or report is held by the registrant.

I was questioning whether Item 2 (c) would apply to PTSC in this case as the patents are "property" but it seems likely that this issue is intended to apply more to real estate and tangible assets than IP. Do you have any words of wisdom that can eliminate this concern in its entirety? Thanks.