BOD - Do NOT settle with TPL unless ...
posted on
Jun 22, 2011 09:25PM
there are financial controls in place to account for every single penny of MMP licensing activity. Create monthly audits and contract out to KPMG (or another Big 4) to ensure all costs charged to MMP revenue is accurate and reasonable. If the MMP is to generate 100s of millions of more dollars (who knows) then insist on KPMG auditors (plural) have office space at TPL's headquarters. Insist that KPMG auditors are in Europe and Asia.
Spending 2 to 3 million a year on audit controls given everything that TPL has done fraudelently is nothing if the MMP is to generate 10s of millions of dollars per year until the end of the MMP life.
It is like having a 14 yr old child who abused their freedom and got into serious trouble and now they are not allowed out of site, ever, period. TPL had their chance. Some things should be non-negotiable as a starting point and audit controls is priority number ONE if any settlement is reached.
Public settlements should be included in any negotiation and PTSC should be forced to announce all settlements going forward after a possible T3 settlement/court victory. I understand the need to perform a few more licenses without announcements to continue to fund the fight against the T3 at nuisance levels. But after the T3 case is terminated (win or lose - no draw) no more hidden licensing activity. Obviously a loss ends it all, which would be fine for me because it would bring an end to this ridiculous episode. A win is a million times better.
PTSC is trading at 8.5 cents and there is no need to keep licensing secret. And TPL's strategy has been abused and they should lose their rights to dictate all MMP licensing activity. Thus far the court has granted PTSC some temporary (I believe temporary) oversight by giving PTSC 5 days to approve licenses. Four companies were publicized when their licensing came out. It can easily be done. The only reason for hiding licensing amounts is because they amount to nothing more than nuisance values AND to assist TPL in syphoning money from the MMP to the Leckrones' personal bank accounts. Enough!
GLTAL