If Patriot were to experience a rash of material events such as successive MMP license purchases occurring in a very short period of time, I find it highly unlikely that they would be able to purchase 100M shares - under the rules set forth by the SEC - before such interest in the influx of monies would spark a run-up in volume, and subsequently the share price, to the point where the repurchases would not be of beneficial value. I suggest that the volume limits under the rules would present a situation whereby Patriot would not be able to purchase a substantial enough number of shares in the near term before the share price became unattractively high. Perhaps, and IMO, some repurchasing of shares could occur, but between these two options, I believe spending the incoming revenue on growing the company's M&A activity would be a more appropriate and achievable activity.

http://sec.gov/rules/final/33-8335.htm

3. Price Condition

The price condition specifies the highest price an issuer may bid or pay for its common stock.16 Rule 10b-18's current price limitations vary depending on whether the security is a "reported," "exchange-traded," "Nasdaq," or "other security," (as defined under the current Rule) and whether the bid or purchase is effected on an exchange.17 The price condition is intended to prevent the issuer from leading the market for the security through its repurchases by limiting the issuer to bidding for or buying its security at a price that is no higher than the highest independent published bid or last independent transaction price. As such, the price condition uses an independent reference price that has not been set or influenced by the issuer but, instead, is based on independent market forces.

4. Volume Condition

The volume condition limits the amount of securities an issuer may repurchase in the market in a single day. The volume condition is designed to prevent an issuer from dominating the market for its securities through substantial purchasing activity.18 An issuer dominating the market for its securities in this way can mislead investors about the integrity of the securities market as an independent pricing mechanism.19

Under the current volume condition, an issuer may effect daily purchases in an amount up to 25% of the ADTV in its shares (the "25% volume limitation").20 However, the current 25% volume limitation does not include an issuer's block purchases. Moreover, an issuer's block purchases are not included in determining a security's four-week ADTV under the Rule.21 The current Rule defines a "block" as a quantity of stock that either: (i) has a purchase price of $200,000 or more; or (ii) is at least 5,000 shares and has a purchase price of at least $50,000; or (iii) is at least 20 round lots of the security and totals 150 percent or more of the trading volume for that security or, in the event that trading volume data are unavailable, is at least 20 round lots of the security and totals at least one-tenth of one percent (.001) of the outstanding shares of the security, exclusive of any shares owned by any affiliate.22

The definition also provides that a block does not include any amount a broker or dealer, acting for its own account, has accumulated for the purpose of selling to the issuer, if the issuer knows or has reason to know that such amount was accumulated for such purpose. The definition also excludes any amount that a broker or dealer has sold short to the issuer, if the issuer knows or has reason to know that the sale was a short sale.23