<So yes, the evidence points to the almost certain probability that the additional $6.8M or so since Nov. 30 came from an unnannounced license signing or from several of them.>

Actually, I believe the number might be higher than that

To the 7.0 mil in cash at Jan 13th, I added PDS distributions consisting of 1.4 mil to PTSC and I assume the same to TPL. Then I add in the PDS expenses of roughly 2.0 mil for the quarter through Nov 30th plus an estimated .5 mil for Dec through Jan 13th.

Then I backed out the original .8 mil they stated with. (PDS had .8 mil as of August 31st the end of the last quarter.)

By my calculation PDS took in about 7+1.4+1.4+2+.5-.8 = 11.5 million (MIN).

(MIN) because I'm assuming distribution of 2.8 million occurred when PDS capitalization exceeded the 8 mil max according to terms of the MA. That would mean after the quarterly expense were paid, the till must have contained 8mil + the 2.8 mil. distributed. The assumption being they would not have made the distribution if not at the max. capitalization and all the bills paid. Could be wrong on that but I think expenses have increased, hence the probability of PDS wanting to keep the max allowed.

That would mean the quarter ended with 8 mil plus the 2.8 distributed after the quarterly expenses were paid. The Jan 13th 7.0 mil bal after paying additional expenses in Dec/Jan.

Under that scenario PDS would have pulled in 8mil plus the 2.8 distributed plus the 2 mil in quarterly expenses less the .8 it started with. 8+2.8+2-.8 = 12 million (MAX)

Corrections welcomed.

Opty