During the nine months ended February 29, 2008, TPL entered into licensing agreements with third parties, pursuant to which Phoenix Digital received aggregate proceeds of $48,851,970.

During the six months ended November 30, 2007, Phoenix Digital entered into licensing agreements with third parties, pursuant to which it received aggregate proceeds of $20,933,000

License fees for Q3 are $27,918,970.

The only hope is that the fees due from the J3 are not included in this amount, similar to TEAC not being included in the last 10q even though the license was signed in that Q.  Interestingly enough, though I'm about to throw the spreadsheet in the trash, if you eliminate the J's from the quarter, the resultant fees at the 50% premium to previous quarters would show $29M.

I certainly am not promoting this as the likely explanation, but trying to figure out what the F&#! they did.  I hope further explanation proves something valuable ocurred, otherwise, the licensing efforts are NOT what the company has represented IMO.