Thanks for your explanation as I see where in part where missing each other.
My calculations actually show something dfferent than what you state with regard to the MMP. However, for anything OTHER than the MMP, my point is that TPL is on it's own to fund from those sources. If there were NO MMP, then TPL would have no income from it to support Intellasys, or any of Alliacense's work that doesnt have to do with MMP. So they would have to have come up with that money somewhere else, (or perhaps it's self supporting through their licensing of CORE & FLASH, but whatever, it is, MMP should stand completely alone as its own Profit & Loss Center.
That being said, to date from the first Intel & AMD signings through the last 10q, we know MMP licensing has brought in $242.7 M. Of that $33M have been expenses either paid to Alliacence for licensing and legal defense or to outside lawyers for litigation and/or legal matters. So I'm taking 1/3 of that and saying Alliacense got it over the MMP licensing period. Since they are entitled to being paid for ALL of their licensing and defense costs assocated with the commercialization of the MMP, it doesn't stand to reason that Alliacense/TPL has any other costs associated with MMP as they have the right to bill for all of them, and I have not doubt they have....nor do I doubt that they charged Overhead and Profit on those fees. So $11M in my analysis is going to TPL from those efforts.
From the remaining $209.7M of license fees collected, PTSC & TPL spilt those. So TPL has received $104.84M. So, from that, I get $104M plus $11M to come up with the $115M in cash under the mattress. I've already conceded the taxes issue, but am saying they are clever enough to defer payment on the taxes until they use the money to offset (probably wrong, but that's my story & I'm sticking with it).
From there, we know from the last Balance sheet from PTSC that there is approx $27M in cash and equivalents. If TPL were to BUY PTSC, or WHOEVER were to buy PTSC, will be buying that cash along with it, so you can essentially treat that as additional cash that TPL can use in the purchase, eg. they can take the $115, find an additional $27M of their own to come up with the $142M, buy PTSC, and then get that $27M right back from the PTSC balance sheet.
As for accumulating shares, if there were a group of 30 lawyers at TPL that were going to be part of this buyout partnership, then what if 4 of them bought 4%, and another 10 bought 2%, and then another 16 of them bought 1% of the shares.. That's 50% of the shares with no single person being over 5% reporting threshold. If they bought them themselves, NOT from TPL money, but with the intention of getting together to buy out PTSC, I don't know if that's against SEC regs or not, but it certainly wouldn't be a surprise to me if we found one that that this did happen.
Again. Conspriacy thoughts for sure, but some level of this should be watched for, even if it's not the whole scenario I offer for thought.
