Ummm, I think you are "double dipping" with your numbers.

You say $2M/qtr for operating expenses, plus $2M/qtr for PDS. Wouldn't the costs associated with "maintaining" PDS be part of PTSC operating expense?

But I'll grant you that IF we end up paying TPL's obligated contributions to PDS, our expenses would be increased by that amount (though we should get something for it - an accounts receiveable or a greater interest in the MMP).

So, with a recalculation still using "questionable" numbers, we're perhaps looking at 8-9 qtrs. That's two years.

At this point, do you honestly believe it'll take 2 more years for the PTO to do something and for licensing to resume?

If nothing happens at the PTO or anywhere else in PTSC land for another year, will you still be holding PTSC stock?

Are we truly in crisis?

Also keep in mind that if worse came to worse, PTSC has about 200M authorized shares at its disposal - if sold at an average of one half of today's PPS, that's enough for another year of operations with nothing generating any revenues at all, assuming complete status quo.

Also, PTSC does have assets that could be leveraged.

That's three years with everyone at the PTO, PTSC, PDSG, PDS/Alliacense sitting on their thumbs.

Crisis? This does deserve attention because the issue is a major concern, but I wouldn't characterize it as a "crisis" quite yet.

FWIW,

SGE