To hopefully settle some questions -

PTSC does not recognize revenue per se from PDS. Instead there is one line on the income statement - Equity in earnings (loss) of affiliated company - that shows PTSC's 50% of the profit/loss of PDS for the time period being reported on.

Distributions from PDS do not affect any income/expense items at all. They affect the Investment account on the balance sheet.

IMO it is folly to try to link a distribution from PDS to a specific license. As an example, PDS had about 2.4 million in cash at 11/30/12. It makes distributions to PTSC and TPL when it is determined that the cash won't be needed by PDS.

As an aside to LL, companies don't recognize revenue from any kind of stock issuance.