PTSC earned

• $9,388,321 - Earnings for 2008 FY
• $23,691,187 - Earnings for 2007 FY
• $28,672,688 - Earnings for 2006 FY
• $(2,694,000) - Earnings for 2005 FY
• $(4,150,000) - Earnings for 2004 FY

Obviously a bit uneven. HOWEVER, MMP licenses CONTINUE to be signed EVEN with USPTO unresolved status. Furthermore, licenses have continued to rack up, regardless of the USPTO status, in the 3 years that PTSC has been profitable. IMO, therefore, CLEARLY, if the USPTO rules in PTSC's favor, we can expect that the earnings would trend UPWARD, not downward, and probably significantly so. Add to that Holocom & possibly Talis & Crossflo positive earnings and earnings should definitely be trending upward longterm.

Based on those above numbers, at 26 cents, PTSC is trading at the following P/E ratios baed on the currently (pre-Crossflo) outstanding shares of 387,448,755.

• 10.73 based on 2008 FY Earnings
• 4.25 based on 2007 FY Earnings
• 3.51 based on 2006 FY Earnings

If you assume that the Crossflo deal closes based on an average share price of 25 cents, we'll be adding 29.6M more shares to the outstanding shares. That would make our outstanding shares 417,048,755 and current P/E ratio 11.55 on a TTM basis.

According to Yahoo's page:

http://finance.yahoo.com/q/co?s=PTSC.OB

the "Industry Average P/E" is 18.36. Considering the recent developments, PTSC seems to be on its way to becoming at least an "average" company (obviously I think they'll be better than that) so it seems logical, to me at least, that, barring any setbacks, it is justifiable that PTSC trade at the industry average P/E. If that were to happen, PTSC would be worth 41.3 cents. It sure seems logical to me that we should be there ALREADY. Why we're not, considering PTSC continues to make MILLIONS from MMP is beyond me, BUT, if RG continues the momentum he has started, and we get ANY inkling from the USPTO of a positive outcome, it seems likely that we'll look at 41.3 cents kind of like people on the freeway look at mile markers, here one second and in the rearview mirror the next!