I’ve said before that I think the BOD could retire, the lights could be shut off, the leases terminated, the license sale checks directly deposited to PTSC’s bank account, and a good Accounting Firm contracted to manage the income and report to the Stock Holders. Maybe this is an exaggeration, but not too far from the truth, especially before the M&A stuff. was brought into the picture.

It's an exaggeration because there needs to be a BoD for SEC compliance and filing purposes but other than to "keep things legal," so to speak, you're right. They are largely not needed for PTSC to function.

I imagine the M&A and similar debacles were all due to the BoD wanting to justify their existence and pay. Idle hands and all that.

Unfortunately PTSC, and by extension its shareholders, has little control of the TPL-Alliacense side of things.