Part 1) PTSC had the good sence to join with TPL on the MMP and let TPL with thier superior legal team pursue licensing of the MMP. TPL provided first mover discounts for infringing companies to get the licensing started. The licensing rate has ramped up after the favorable Markman ruling and settlement with the J's. So far the licensing plan has been carried out very well by TPL.
PTSC has cleaned up the books, settled the Fish dispute, bought back shares and all remaining warrants, paid out dividends, acquired Holocom, has posted a profit for the past couple of years and has been evaluating potential companies for a possible merger or Acquisition.
Schwartz has been selling a large position of shares over time which has resulted in supressing the share price for quite some time. The good news is that his share count position is shrinking and the low share price has allowed for us to increase our positions in the company.
Part 2) PTSC is on the verge of announcing the largest profit in it's history for the last Q. They have appointed a new CEO. They now have or shortly will have enough cash to act on a merger or aquisition when the time and fit is right which may provide a position on a better stock exchange.
It is more likely that the patents will be stronger after the USPTO review than weaker. It is also more likely that the patent reform bill will be modified to favor the inventor and if not it will more than likely be vetoed by the president.
If you step back and look at what has and is transpiring it is truly amazing how much has been accomplished in such a relatively short amount of time since TPL and PTSC Merged as partners on the MMP.
In my opinion as frustrating and nerve racking as it has been, we are on the ground floor of a company that will grow into a great investment for those that stick it out. The future has never looked brighter.
All the best,
Steve
