I disagree that the M&A is a distraction. Its a necessity.

Your points #1 and #2 are totally out of the control of PTSC. There is no timetable and nothing PTSC can really do to control the validation of the patents or speed up/increase any MMP licenses (since TPL handles this).

M&A is something that PTSC needs to do now. They need to branch out to new revenues other PTSC is just sitting around waiting for checks to come in.

If for whatever reason the MMP can no longer be the primary revenue for this company.....there needs to be a PLAN B. The MMP provided more than enough cash & capital in a short period of time for PTSC to make new investments for new business. The disappointment has been that despite all the talk..nothing has been done.

Personally, i think the reason the SP has suffered so much is because we are so dependant on the revenue from the MMP. As the future licensing becomes uncertain, doubtful, etc..... what is PTSC to fall back on??

RG and PTSC needs to speed up the process of the M & A and show the shareholders that they are bringing things to the table.

*However i also understand that perhaps PTSC is waiting to clear up some of the funds that were tied up in the ARO or have pushed the share buyback priority in the meantime...