And what is the purpose of Alliacense? Who does Alliacense represent? Just the MMP?

But I admit that I "mis-spoke" when I referred to Alliacense in this context. Replace "Alliacense" with "PDS".

And note that per the full length 10Q, PTSC does not intend to loan any more money to TPL. PTSC is not "funding TPL", PTSC is making loans to TPL - a subtle but distinct difference.

"Why would PTSC make a second loan to TPL that is unseccured, when the first loan to TPL was secured?"

I'll say it again, because apparently you are not listening: The unsecured loan by PTSC to TPL was IMO a blunder. It should have been secured. A mere "Promisary Note" is something that should be used to assist a family member or such (in situations where you have faith that the person/entity will pay you back), not in a business situation.

"Did accounting principles call for a compulsory and complete writedown to zero, or does PTSC internally value the loan at zero, if so why?"

Under present circumstances, I strongly suspect the former. The loan is in default, is not secured, and the suit outcome is not known/absolute. Perhaps Fut can comment.

Hope this helps. Apologies if I come across as lecturing. I'm just presenting my views/opinions, which are open to debate.

SGE