I'm not so sure TPL only got $10M from Intel. Actually, it's PTSC that got $10M from the Intel license at the time of the formation of the JV. This was the "remainder" of the milestone payments. PRESUMABLY (at least I've always assumed, though I've learned I've been wrong in this assumption), this was HALF of the TOTAL Intel license fee paid considering the idea of the JV, (at least as presented to shareholders) was that it represented a 50/50 relationship with TPL with respect to participation in license fees.

I suspect TPL licensed Intel for more, and likely much much more than the $20M total fee that a PTSC $10M portion implies. In fact, if you look at the language of previous PR's I've cited in the recent past, it essentially CONFIRMS that TPL got way more than HALF of the Intel license. For example, at a time when PTSC's SEC filings had revealed that the MMP had brought in a total of around $297M (based on an assumed $20M Intel fee) they in fact were touting the MMP to have generated over $300M in license fees.

I think your point is still a valid one though in that even if it were $20M or $30M, when you look at what PTSC & TPL have represented to the market, it doesn't pass the smell test. All it seems to reveal is that PTSC got the raw end of the deal again.

******************************

From 8-K on M.A.

http://www.sec.gov/Archives/edgar/data/836564/000114420405019003/v019805_ex10-40.txt

2.3 Patriot License to Intel. Patriot has entered into the Patriot License
to Intel.

2.4 Stipulated Final Judgment. As soon as possible after the date hereof,
Patriot, TPL and Moore shall enter into the Stipulated Final Judgment and file
it promptly thereafter with the court.

2.5 Delivery of Intel Proceeds. As soon as possible after the date hereof,
TPL shall request that Intel deliver all of the unpaid Milestone Payments (as
defined in the Intel Patent License Agreement) pursuant to Section 3.2 of the
Intel Patent License Agreement to the account set forth on Exhibit A to the
Escrow Agreement, and the rights of Patriot and TPL with regard to the Milestone
Payments shall thereafter be as set forth in the Escrow Agreement.

*****************************

and from 10q

http://www.sec.gov/Archives/edgar/data/836564/000114420405032457/v027620_10qsb.txt

Concurrently with forming the JV LLC, the Company entered into a license
agreement with a third party pursuant to which it received $10,000,000, which
amount was recorded as license revenue during the quarter ended August 31, 2005.
In connection with entering into the license agreement and forming the JV LLC