"...naive or disingenuous..."

You got me laughing at this one! I'm neither naive nor disingenuous, I'm just looking at the "reality" (courtesy of SGE1) and the possibilities of ALL actors in this weird game - but it is the usual "Ron KNOWS it and the others NOT" attitude.

"... in terms of returning value to its shareholders, the last 10 years of PTSC's
history, and the last 3 years in particular, have been a disaster..."

You remember the times between 1997 and 2002? I've been around at these times with a lot of technology companies - and 99,5% have GONE today. From 2009 it looks very simple to judge decisions made in 1999 or 2002, but if you would have been in business responsibility you'd speak different today.
By the way: All of us are here BECAUSE of the BoD/Managements's decision to change the business model of PTSC and concentrate on the IP business - a decision made in 2003 and fulfilled in 2005 with the partnership with TPL.

The last 3 years were pure horror - no doubt. But again: I'm quite sure that management and BoD (and we as the shareholders) thought of the future as a golden one, especially when Hewlett-Packard paid 20millions (Fujitsu a similar amount of money) and several big names followed - in sum it was 100million in 2005/2006 for both TPL and PTSC.
WOW, what a great success!!!
I thought this would go on forever and better the money flow would increase, but guess what: the industry fought back.
I suggest you take a look at other IP driven companies and you'll find similar developments: Years of loss or stagnation until ALL participiants agree their claims are valid.

Again: who is naive?

Nevertheless I wish all of you a great christmas, enjoy the time with your family and take care of you.

GLTA: Michael