First, you are incorrect when you say:

"TPL nor Patriot ever release settlement numbers before the 10Q on any licenses."

While TPL didn't have to disclose numbers ever, since they are not a publically traded company and not subject to SEC regs, PTSC did disclose the values of the early licenses. They had to, up until it was determined/obvious that such licensing was not an extraordinary event, so the associated receipt of money in this fashion was not "unusual", but normal business activity.

Now, to answer your question:

"That being the case, when would any board member be able to trade the stock since they always have the advantage of knowing the true numbers before retail."

Insider trading laws apply to information that has not been made public. Once the info becomes public, the affected parties are free to trade on that info, as can the public.

Hope this helps....

SGE