A quick and dirty answer as it`s late and I`ve got a full day tomorrow.

A couple of things I noticed - 1) Newco is to report to PTSC withing 60 days after the end of a calendar quarter. Since PTSC is not on a calendar year, the ``gap`` suggested may not be so great. As an example, Newco must report June 30 calendar to PTSC by roughly August 29. Which would mean PTSC could include that info in their first fiscal quarter report covering June - August.

2)Keep in mind that licensing agreements will cover multiple years, and therefore we may be recording quarterly revenue for the next 10 years if the parameters of a particular contract call for that (what those parameters may be is a whole other discussion).

Hope this helps. BTW, someone asked a week or so ago about how our relationship with Newco will be reflected in our financial reporting. I couldn`t reply at the time, but I believe it was Knixx that posted what I believe is the correct answer - our investment in Newco will be a one-line item on the balance sheet and as a one line item on the income statement. I would think our percentage share of income and expenses will be shown peripherally as in a footnote or supplemental schedule.