PTSC's 10-Q also reports that during the February quarter the Company reaffirmed its commitment to the MMP™ portfolio of microprocessor patents by providing two loans totaling $1,950,000 to TPL. One of the loans issued currently is in default causing the Company to take a charge to earnings of $1,000,000 plus interest in the event of its non-collection, while at the same time the Company has asserted certain offsets to amounts claimed to be due TPL but are otherwise in dispute. The Company is working aggressively to resolve this issue and to provide for the resumption of productive license activity from the MMP™ portfolio.

Doesn't pass sniff test!!!