Re: Perhaps TPL may be on the hook

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optymystic

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Re: Perhaps TPL may be on the hook

in response to

Perhaps TPL may be on the hook

l2007s

posted on Dec 27, 2011 05:11PM

< If by agreement, Brown was entitled to a percentage of the gross MMP license revenue from TPL's 50%, that could be reason enough for Leckrone to demand that PTSC keeps this quiet until it must be reported in a 10Q.>

I agree but I think a more correct wording would be

< If by agreement, Brown IS entitled...> not was entitled.

I do believe the agreement was with Brown the investor, not necessarily Brown the employee. So payment would be ongoing as long as TPL was licensing the MMP. So yes, TPL would not want to give notice to Brown that there are new licenses for which he needs to cough up money. While his agreement with Brown may be based on the gross to TPL, there may be nothing in that agreement which would allow TPL to wait until PDS is fully funded. Meaning any money owed would come directly out of TPL's treasury. It is my understanding there is no distrubution until PDS is fully funded. Corrections welcomed.