Way to be gentle with me! LOL!
I completely understand where you're coming from but the reason I used that number is THAT IS essentially what PTSC has been for the last 2 years. In 2006, PTSC reported net income (before taxes) of $28.7M, and in 2007, it reported net income of $34.5. Thru Q3 of 2008, date it has reported net income of $12.5M so annualize that and it's $16.7M. So over the last three years, PTSC has been a company with positive cash flow of $26.6M per year. I think that get's lost in the shuffle here. You may contend that it's not revenue of its own, but in fact it is. That revenue is as much its own as it is TPL's. TPL is just the licensing firm that PTSC has hired to license ITS OWN 50% SHARE of the MMP.
So in essence, the answer to your question might be the same as who would PTSC allow to buy them out? And at what value? I don't know. But certainly, depending on what debt and other problems a $30M per year company has, it might be a candidate that an experienced M&A team, from a company with NO DEBT, and a steady though volatile (contradiction I know, but it DOES apply) revenue stream with a RELATIVELY strong balance sheet, might be able to pull off. At least for me, that's the kind of skill and opportunity that I'm expecting that the Goerners, Bibeaus and Schrocks of the world are going to be able to bring to the table that the Pohl's & Turley's could not.