There really is no hidden secret to the costs associated with licensing the MMP through PDS. The revenues are very clear, and the costs are very clear. What Moore & TPL have to split is EXACTLY the same amount that PTSC receives. Through the end of February 2009, below is listed EXACTLY what has been received through the MMP licensing efforts as reported by PTSC in their SEC filings over the years, with the exception of the $20M from Intel, and the $3.05M from AMD which is NOT included in these amounts. Essentially, while Moore is claiming he thinks there's been $260M in licensing. That would make sense considering TPL got $10M of the Intel money.

Depending how you account for that Pre-CommAg Money, TPL/Moores share of the NET proceeds AFTER expenses, is either $104.5M or $114.5M. So if you follow Moore's somewhat convoluted math on his Moore v TPL page, he essentailly says he's due 49.5% of the above amounts MINUS whatever 55% SeaForth expenses were. 49.5% of the above amounts leaves Moore due either $51.7M or $56.7M. Subtract from that 55% of SeaForth expenses, which he asserts in one sentence as $40M total SeaForth expenses (Moore's share would be $22M) or in another sentence as $25M as his share of SeaForth expenses.

Assuming the most conservative pro-TPL view of these numbers (keeping in mind this is Moore's representation of their agreement) and it would seem Moore was owed $51.7M minus $25M, or $26.7M. He's claiming he received only $10M, so TPL seems to have shorted him at least $16.7M. Taking a pro-Moore veiw of these numbers and the amount be as much as $24.7M

Assuming that TPL did NOT pay taxes on Moore's portion (which I assume would be likely, maybe the CPA's here can clarify whether that's a logical assumption or not), then it seems TPL owes Moore some pretty serious money. Even if you assume that TPL paid the tax burden, it seems as though there is still quite a discrepancy (over $7M it would seem).

While I agree, Moore doesn't seem to be the sharpest or most savvy business mind based on his website, it does appear as though TPL has underpaid him, which to my mind, makes me very wary of TPL and how they might do business. Couple that with how they seem to run roughshod over PTSC management and BOD, and you find the reason why I think it is absolutely part of the management and BOD's fiduciary responsibility to PTSC shareholders, to thouroghly audit PDS's books and specifically the expenses charged by TPL in the licensing efforts. I would HOPE that they've already done this, and that they do it on a regular basis, but I've never received confirmation of that, nor does there appear to be any suggestion of same in any of PTSC's filings or communicaitons, unless I've missed something. But if TPL is monkeying with the numbers with their partner Moore, who is/was part of their company, to think they're not doing it with PTSC is shortsighted and simply foolish, in my opinion.

Please feel free to post why, based on these numbers, you feel differently. I admit, the Moore/TPL splits are per Moore's view, so I'm not arguing that those numbers may be inaccurate, but if you take his percentages as he presents them, and TPL's apparent admission that they do owe him money, it certainly seems to indict the Leckrones at least modestly, and potentially very seriously.