My points are that PTSC, as a Public Company, is obligated to report/disclose according to the rules that govern public companies. In being a public company, it can not (legal people here can correct me if I'm wrong) subjugate those responsibilities through agreements it enters into.

For example, if the commercialization agreement said that PTSC could not file it's 10q until 2 months after the deadline, or report the financial results of it's investments in PDS, do you think that that is acceptable? And by acceptable, I mean LEGALLY ACCEPTABLE based on the requirements of the laws governing public companies? When you consider the standard I cited about in Reg FD:

"Information is material if "there is a substantial likelihood that a reasonable shareholder would consider it important" in making an investment decision."

Are you implying that PTSC can circumvent that standard through the Commercialization Agreement? I do not agree.