During the three months ended November 30, 2009 and 2008, TPL entered into licensing agreements with third parties, pursuant to which PDS recorded aggregate proceeds of $8,696,000 and $2,775,000, respectively. $2,000,000 of these proceeds are to be received in July 2010 and accordingly have been recorded as licenses receivable on the November 30, 3009 condensed balance sheet of PDS.
During the six months ended November 30, 2009 and 2008, TPL entered into licensing agreements with third parties, pursuant to which PDS recorded aggregate proceeds of $11,023,655 and $19,050,000, respectively.
At November 30, 2009, PDS had accounts payable balances of approximately $2,387,332 and $385 to TPL and PTSC, respectively. At May 31, 2009, PDS had accounts payable balances of approximately $1,482,000 and $5,500 to TPL and PTSC, respectively.
