I should have read your post first re: letter of credit based on leveraging monies from new licensees. Should be easily do-able.
As for PTSC reporting of any buy-back, I have no idea when or if this would be required or if there are reporting thresholds (which I more suspect exist). They may not have to report until they achieve a buy-back of 5% or something. But that is precisely the news I`d like to hear! Of course, that being second to hearing of J-3 settlements (for a lot of money)!
SGE