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Message: Regarding the PPS
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bean,

I agree with you. IMO, cash is king especially if MMP has lost it's teeth. (I don't believe that but some folks have alluded to it).

But what if there's more $$$ on the way. PTSC/TPL is certainly in a more 'in the know' position than shareholders and should have some inkling as to future revenues (MMP licensees or M&A).

It makes little sense to me that PTSC would engage in buying back shares if there is any doubt of future (substantial) revenue. Therefore, I do feel that a confidence on the part of PTSC strongly exist regarding future revenues.

If PTSC continues to re-purchase at a ~20% shares traded/ratio over the next month or so, (at current sp or lower) and (in anticipation of positive news from USPTO resulting in a rash of licensees), then, imo, this could commensurate into a huge windfall and support a M&A event.

I think it's a smart strategy, only if PTSC is confident that more rev's are on the way, otherwise, it's merely window dressing, IMO.

It boils down to faith in management. RG appears to be a strong CEO so far. Looking forward to the next letter. Hopefully, he will include an update of any ongoing share re-purchasing.

Regards,
PxP

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Re: Share Buy Backs..to add...

Posted by: PxPEnPassant on May 13, 2008 01:04AM

In response to: Re: Share Buy Backs by PxPEnPassant

Why would PTSC buy back 2 million shares, approximately 20% of the shares sold (not traded) in the last 19 trading days, if in fact, the prospect of additional revenues is waning??? That would be absurd, imo.

2 million shares at .26 (lowest possible share price offering in the last 19 T-days, ) = $520,000 or more. I would wager that all shares purchased by PTSC were not at a .26 average either.

Why would PTSC buy back shares if the well is running dry??? That strategy, imo, would be ludicrous.

If you're trying to cross a desert to reach the promised land, then you will need all the water you can get in order to remain alive. (From an outside-in perspective, it appears to me that PTSC feels more revenue(oasis in the desert) is on the horizon. Why else would they spend (drink) their bankroll (water) unnecessarily???

That's all I have to say about that.

Regards,
PxP

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