Re: PDS may need financing?..pappytho...
in response to
by
posted on
Aug 17, 2010 09:14AM
One of the loans was repaid - the one that was secured; the other (unsecured) loan for $1,000,000 has not been paid, and has been fully reserved for (i.e. written down to zero). This I thought was somewhat odd (on the last Q) because that implies it is deemed uncollectable, unless there is an accounting rule that automatically triggers a full reserve for a note in default, but generally there is leeway in determining 'fair value'/'collectability'.
Other items of note from the filing:
"On April 29, 2009, we, TPL, and Alliacense Ltd., were named as defendants in a lawsuit filed in the United States District Court for the Southern District of New York by Sirius XM Radio, Inc. The Sirius case seeks declaratory relief that its products do not infringe enforceable claims of our '749, '584, '890, '336 and '148 patents, and additionally two patents of TPL's "fast logic" portfolio which do not involve us. The Sirius case was deemed related to the Acer, HTC and Barco cases. A settlement of the Sirius action has been finalized and that action was dismissed on July 30, 2010."
"During the period June 1, 2010 through August 6, 2010, we purchased 348,400 shares of our common stock at an aggregate cost of $38,755 pursuant to our stock buyback program."