From Moore’s complaint

Pursuant to the ComAg (TPL/PTSC/Moore) TPL to deduct a flat 15% of gross revenues for licensing expenses for the entire MMP portfolio

This should have eliminated all further claims for expenses relating to the commercialization of the MMP portfolio

Expenses continued to be claimed, as offsets against Royalty revenues, and increased dramatically

Between 2006-08 TPL added 3 patent portfolios and began commingling its marketing efforts for all four portfolios

Upon info and belief

TPL diverted revenues generated by the MMP portfolio to support its business expansion into these other non related patent portfolios; increased employees, more luxurious offices, hired expensive consultants

TPL departed from realm of reasonable expenses; private jets, first class travel, purchased limos, retained executive VP in London, meals, entertainment, travel expenses to Japan, Korea, France and US

TPL made exorbitant expenditures for legal fees & made secret undisclosed profits and returns by reason of such legal fees

TPL expanded Alliacense’s licensing activities its focus on the MMP was lost. TPL engaged in cross licensing and commingling of licenses to the detriment of Moore and PTSC

Since Sept. 26, 2006 TPL failed to advise Moore as to any licenses it has written or revenues realized

TPL has never accounted to Moore for its gross revenues and expenses relating to the commercialization of the MMP

Commercialization Agreement Article III, Covenants

3.1 within 60 days of the close of each calendar quarter TPL shall deliver to P-Newco (PDS)

operating statement, Calculation of gross proceeds, Itimization of expenses

a) Within 30 days after P-Newco’s receive thereof, PTSC shall deliver to TPL written notice of objections

b) Costs related to verifying time and expense charges and/or auditing reports shall be paid in advance by the entity supporting such request (PTSC or TPL)

Given all of the above, seriously folks…..it took our BoD until April 2010 to take TPL to court.

We all know by now that they are poor money managers. Isn’t anyone concerned with what they may have overlooked completely, or worse still, may have chosen to ignore?