IMO the discussion of a TPL buy-out is a non-starter.  I also believe you're looking at it the wrong way.  It's not like they could sneak up on us with a hostile take-over, because once they acquired 5% of our OS, it would have to be reported, I believe.  So they'd have to approach PTSC AND ITS Shareholders with a proposition.

So how much per share would YOU be willing to accept for your shares?  $2.50?  That means TPL would have to come up with a billion.  $5.00 - two billion.  Where are they going to come up with that kind of money?  Licensees?  Well, they're spliting half that money with us, so the value of PTSC increases, and the price tag increases (e.g., IF there were a settlement for $250M - $125M to us, would YOU still be willing to accept $2.50 per share? $5.00?).

Again, discussion of TPL buying out PTSC is a non-starter IMO, and hopefully the above explains why.

JMHO, with the hope of ending this thread.

SGE