Boreedo,

IMO your right on on the USPTO revalidation. It has to be a thorn in the license negotiations and I believe as you that the J3 settlement has contingencies tied to it as well. This probably explains why TPL is licensing at these lower rates.

M&A is affected like you say because they are not 100% sure there will be significant money coming in.

We all know the only real plus this company has to generate significant money now is the MMP. What kind of company can you buy for $20 - $30 Million that will generate enough profit to move the SP. It would have to be a company with some new product that had huge upside potential. My guess is the big boys would beat our offer if something became available with the kind of potential we would need.

IMO it is evident the company is downplaying the MMP potential right now. Perhaps this is tied to the Re-validation issue as well and may help explain why we are being kept in the dark for now. It may also explain why PTSC pushed out the February licenses this last quarter as they want the upcoming 10K report to be big figuring the timing may be more suited for the re-validation of the patents.

All the best,

Steve