Wolf
I would also add that TPL gets paid after expenses. Another way to look at this is we could be paying for half of his empire building. As a private company there is far less transperancy/accountability. Question why do they have a UK office? For this kind of business besides Silicon Valley if there were justification for another location it would be Taiwan or China. Asia is where the action is right now.
I have also wondered if a potential license for a MMP who also has interest in one of the other portfolio suites that TPL sells is getting a discount by choicing more then one. If this potential can even exist it won't be in the best interest for PTSC shareholders.
Napapro