I’ve read several posts commenting on the size of the legal expenses incurred which were expensed in the last quarter and the perceived linkage to the recent J3 settlement. It is entirely possible the fees were not only attributable to the J3 action, but also to current and prior legal activity. It takes time and money to pursue monetary remediation to perceived patent infringement. This bill may cover direct legal action covering several infringers in various stages of negotiation.

Moreover, expect significant legal expenses to be incurred regularly in the future, my friends!! As our legal team ramps up their legal activity, and more and more infringers are contacted and dealt with, I expect sizeable legal bills each quarter. His will be a recurring expense each quarter and could be significant each quarter. To date, Cook has performed very well at obtaining settlements. Remember, Cook made his bones with the Intergraph settlement to the tune of $400M. If you want results, expect to pay a top legal team top dollars. Am sure their reputation is secure and I believe there is an “intimidation” factor going on presently with some companies now and in the future, who faced with someone of Cook’s stature, think twice about ignoring demand letters. Especially now after the J3 settlement.

If the size of the legal expense booked this quarter were lower, some on this board would be quite satisfied with the overall financial results. Me too!..Well, lawyers want to be paid now and they were. Maybe PTSC management desired to expense as much stuff as possible to position the firm for a knockout next quarter on a quarter over quarter basis and year over year.

Lastly, remember TPL owns many shares in PTSC and has a vested interest in making their PTSC investment appreciate in terms of share price on a percentage basis, at least, though I concede TPL is much more focused on the size of the settlements added to their coffers.

Virt