F@#& Off! If you don't like it, do it yourself....LOLOLOL. Just kidding!! Really! Couldn't resist.

I take no offense to any suggestions on how to improve the spreadsheet. As I've admitted several times, my list is very basic, limited in information, and can only reflect the historical tie between license fee and annual revs of licensee. Furthermore, any corrections to information I've included would be greatly appreciated. I've done so as I've found it.

That being said, most of the info re: annual revenues I try to get from SEC filings, where available, and then if not, from the company sites, from financial sites, and lastly from articles that might show it. I don't necessarily go through all those steps, but go through them in that order until I find revenue numbers. Also, the numbers are as of the last year that I can find, so certainly HP and others have more current numbers today than they had when I posted the list originally. That's my long winded way of saying if you have better info than I show, please let me know by PMing me with the number and the link you got it from as I may miss a post here as I'm not able to read every post. Also, for everyone's benefit, you should also post it here so that people aren't waiting on me if there is better info than I have.

The additional columns you mention are difficult to add since as you note, for one we don't necessarily know the make up of the affected products and for the other, the market cap changes daily. I suppose we can add a column for Market Cap on the day the license was signed and calculate from there. I don't have a problem updating the spreadsheet, but would find it helpful if you presented a quick short on-line spreadsheet modified with the additional columns as you see them as I'm having a little trouble on a Friday of digesting your info, and I'd rather get it the way your suggesting instead of my interpretation.

As for the numbers I use in the bullet point areas, I can tell you that I am always trying to be conservative, realistic and without low-balling, trying to find the likely low end of the spectrum rather than the high end. With that in mind, my 75% discount was intentional as was the list of potential licensees, etc. My experience is that our interests are aligned with positives, and reality and the legal system (settlements) usually fall short of what should be. I can't disagree with what you disagree with me on as it's simply another way of looking at it. I hope you're closer than me, but one thing I think PTSC has suffered from since I've been invested is overexpectation from shareholders, and underdelivering from the company. Therefore, I approach it as I'd rather have my estimates beaten, than not reached.

The one disagreement you note, that I can correct you on categorically, as I have it confirmed from the company, is that JVC is a separate license from Matsushita. Also, APC is a separate license from Schneider. Panasonic is NOT a separate license. So as of Mattel, the licenses numbered 40, and since then there have been 3. This is directly clarified by Hawk from the Company to me in response to an e-mail requesting clarification, so my list of licensees should be accurate. Also, I agree with your reading that TEAC was not included in the last 10Q.

So all that being said, here's to $1.95 in April and onwards & upwards from there!