Those are great ifs. And a reminder to all of us why we feel PTSC has promise even still.
However, a couple of nitpicking facts. To date, (not counting the last 2 licenses), 68 MMP licenses have brought in $293.6M GROSS from which PTSC has netted $123.7M. That works out to be $1.82M NET per license. Not far from your $2M assumption, but still less.
HOWEVER, among those 68 are some of the largest electronics companies, with some, and primarly the EARLIEST licensors paying among the largest fees. The Billion dollar question is, with KSR, the re-exams, the various issues that have been "litigated", and all the other "water under the bridge" with respect to MMP and PTSC, whether the fees from the remaining body of infingers will be able to maintain, increase on, or fall short of that average. Furthermore, will TPL be able to increase the volume of licenses by the more than 5-fold your analysis reflects. That being said, even if we only got half, $2.50 per share at P/E of 10 ain't so bad to my ears!
OT - Congrats to the OTHER black and gold Super Bowl winners. 1 down, 5 more to go to keep up with big brother.
