"TPL entered into licensing agreements with third parties, pursuant to which PDS received aggregate proceeds of $450,000 and $512,300, respectively."

So that's $962,300 to PDS (not PTSC). As I recall, PDS receives 100% of MMP license fees and THEN makes distributions.

Then it pays 15% off the top to TPL (for what, nowadays?) i.e. $144,345 leaving $817,955. Presumably none of this made to TPL or PTSC because PDS had debts to third parties.

Is that right?

I assume Cartlon Johnson got his PDS stipend paid by PTSC for ongoing work at PDS on behalf of PTSC shareholders to continue to ensure PTSC sees no income.

Q: Why, if the the original CoMag agreement was deemed suitable for shareholders to see, is the modified post-"settlement" revision of it now so secret?

A: Because that's what Dan Leckrone mandated as a condition of the "settlement".

According to Cliff Flowers a while ago.