When PTSC lent TPL $1,000,000, did the promissory note collateralize the loan amount with TPL's interest in the MMP patents ; even if it was only $1M worth of MMP patent collateralization ?
If so, when TPL defaulted on the loan, did PTSC elect to pass up the chance to increase our MMP ownership by seizing the pledged patent collateral, and instead only recover the amount loaned by taking $1M from future license fees ?