< Parameters of the agreement would not prohibit them from buying as long as they had no definitive knowledge of the future dollars that may come form any of the licensees>

Thant makes sense. And the restriction would come into play because the expectations not being met would predictably cause a pps collapse which could have been traded on to the benefit of insiders - sell now and buy back after qtrly. If they buy now, they are trading on less than a sure thing, assuming any future payment is contingent, and that is presumably OK. IMHO Opty