As many old timers know the Leckrones have been on the verge of financial disaster a number of times. I would not care to comment on that as it is never pleasant to take pleasure in another persons problems especially when it is not only their problem but much more importantly in the case of the Leckrones I feel for those who will suffer if they declare bk and leave those people in the lurch.

The following is my personal biased opinion and though I hate it, it is pure speculation. It is based on an Accounting background but not on a legal background (I bow to Ron when it comes to that area of expertise). I would not be surprised if with their history of financial problems that the Leckrones have not hid as many of their personal assets as they could.

It is even possible that the to the chips TPL "developed" are owned by various companies owned by the Leckrones but not tied to TPL. I may be wrong and they may be a sub chapter S corporation and if that is the case then the chips and everything else are tied together and would be placed in limbo until they could be sold off to settle legal matters (a very simplistic statement and as I mentioned I do not do legal analysis).

Instead of writing a novel I would like to make a few basic points. I could make more but I would bore you and I do not have the ability to sit that long in one spot:

I seem to recall that many years ago TPL bought or were given a million shares of PTSC. These shares I assume are not the shares Papa L mentioned at our asm. If those shares are still held by tpl then how they titled on the certs would stipulate how they can be used for purposes of direction post MA if and I hope WHEN there is a post MA.

Because TPL apparently lost their lawsuit, to Mr. Brown that does not mean they will not appeal. However, that will cost money that I am not sure they have so I would look for Papa L to do his things and attempt a settlement. Mr. Brown and Mr. Moores both know what the Leckrones are capable of so if there is a settlement I would expect it to be all cash with no future payments.

I also agree that the Leckrones are unlikely to do anything until the MH ruling. If we have a favorable ruling then it is a new ballgame and a lot will depend on how TPL holds the MMP in their portfolio. Is it in a sub chapter S corporation (if so, then it and all the Leckys own will be subject to forfeit to pay their legal loss).

If however, and we really do not know the answers to this but if they have somehow separated the mmp from tpl and have just leased the patents or assigned the patents to tpl and have their share of the patents held by a third party and have had for many years then they would still be able to have a large say in the future of the mmp (assuming the separation of the patents to the third party happened many many years ago and assuming a successful MH).

If they are able to maintain their own chips (ha, wonder who really paid to have these developed? The independent audit I have been calling for could very well show the co mingling of our funds went a long way to help with their development) then they might want to sell their portion of the MMP. That of course would depend on how they hold their share of the MMP and if they are able to sell or even control the voting rights to that share.

I could go on and on with the what ifs' or as I like to say .... if , if and buts were candy and nuts Christmas would be everyday of the week, .... But a huge IF would be that somehow with a successful MH the Leckrones are forced to or on their own volition to save some of their assets decide to sell their portion of the MMP (obtaining our approval) and they are able to find a buyer that not only gives them a decent return. Now assume that the buyer has the wherewithal to buy the rights to the entire MMP by buying out Moores and PTSC.

Why would somebody do that? Assuming the entity has deep pockets and a knowledgeable patent legal department then they would be able to truly seek the real value remaining in the enforcement of the use and the violation of the past use of the MMP. In this scenario I could see the remaining patent violators shaking in their boots if some entity with Real credibility came knocking on their door. No more discounts but major payouts.

It is my opinion and pure speculation that with 17 successful re exams by the PTO and two successful MH's (knock on wood) that there are huge sums of money out there yet to be collected by a professional entity. After all folks a few hundred million dollars give or take could buy this whole shebang and then it would be Katie bar the door.

To close this is something many of us saw long before TPL became our partner. Real patents, that were essential to so much of what made electronics tied to chips go.

To be honest many of us thought that PTSC really controlled all of the rights p/Fish and the Leckrones did not have a leg to stand on. However, our lack of funding.... interesting it has always been what has been between us and a strong and viable corporation with a substantial market cap.... oh and least I forget the lack of a a strong board and real management along with a lack of money has been our problem all along. So as you can see I am not very good at speculating as I do not know when to end as I could go on and on and on.

Whatever the case I have a feeling that soon we will be coming to a crossroad. The MH ruling will have a lot to do with that. I believe as I said earlier that PTSC has a strong case but it is out of our hands as has most of our history. We will soon see what we will see and to really bring this novelette to a close may I wish you all

God Bless and Good Health

marc