Concerning the very high payments made to BOD members and management involved in the agreement between TPL and PTSC, one explanation for it may be that these people were not paid much during the lean years and this was a way of compensating them for their work.

I would agree that there is an issue with the high levels of compensation this company distributes to its BOD members and management of which so far accounts very little towards the bottom line. But this is the reality in American business today, executives are overpaid. I like the idea of compensating executives tied to the share price performance, as this is the only way that investors can feel that management is truly in bed with them working towards a common goal. But how as a shareholder can we make this happen?

Concerning the agreement itself between PTSC, PDS and TPL. The question I have is why is the agreement between TPL and PTSC not acceptable now? It seemed to be fine for everyone when licenses started coming in and the stock price rose significantly. Everyone seemed to like the agreement then. No one was complaining about how much these BOD members were paid then. I can see two issues with the agreement. One being the neutral vote on the three person panel (somthing RG is aware of and seems to be OK with for now) and the most important issue being how does PTSC make sure that TPL is honest in their expenses for the MMP licensing? I'm not sure how this can be accomplished without having someone from PTSC or someone from PDS looking out for PTSC's best interests involved at every meeting and phone call around the world keeping tabs. I don't see any realistic way around some level of trust between the parties. I understand that in light of Moore's problems with TPL that there is reason to be concerned regarding the trust issue with TPL living up to the agreement. I'm not an attourney, so I don't know what could be added to the agreement that would insure TPL is not overcharging for their efforts. I would be interested in any ideas you would have?

All the best,

Steve