Initially let me comment that I do not understand all the PTSC bashing on this message board. Isnt this supposed to be a forum for investors to share ideas and information? If you dont like the stock or dont have the balls to go long, then go buy a CD and let us longs gobble up the shares and maybe the stock price will be more reflective of the actual value of the company.

As for the recent letter to shareholders, it is exactly what I wanted to see. The long term value of this company is in the right M&A. The license revenue is great but it will dry up eventually one way or another. Until then PTSC is socking away boat loads of cash and it is clear from the letter that their primary focus in 2008 is to put that cash to use with the right M&A, to build that long term value. There is still a lot more revenue to be had with the licenses which will only bolster whatever business operations are in effect from the M&A. PTSC is properly focused on the M&A and clearly taking it very seriously and not rushing into anything just to appease the panicky shareholders.

I am as optimistic as ever on PTSC long.