From the Yahoo finance message board

TPL is a private company and PTSC's sole partner in PDS, a JV entity created solely for the purpose of commercializing, expensing costs and distributing profits from Licensing of the MMP patent portfolio. PDS granted to TPL the exclusive right to manage the reverse engineering, negotiations, licensing and Prosecution of the MMP Portfolio; and TPL has engaged Alliacense, a separate company under the apparent direction/control of the Principals of TPL to provide much of those services.

I believe the Principals of TPL, and any related party with confidential or non public knowledge and access to MMP Licensing efforts or developments within Alliacense, as well as each person on the Board of PDS (past, present and future) should be labeled an INSIDER and specifically treated and reported to the SEC as such for purposes of ownership of PTSC stock.

Because of PTSC's Annual report disclosing TPL having "exercised" Warrants back in 2007, and the lack of any record of a (even delayed) Form 4 for TPL (filed by TPL, Leckrone or PTSC), I'm left to conclude that I don't believe TPL, Dan Leckrone (Chairman of TPL), Mac Leckrone (President of Alliacense) or Robert Neilson (Independent Manager of PDS) were/are considered "Insiders"; and I WOULD LIKE TO KNOW THE LOGIC AND LEGALITY IN THAT. Any outside entity/person that owns or is exercising Warrants into publicly traded stock, and is as critically and intimately involved in a public company's revenue making business decisions as TPL is in PDS's as it's exclusive asset manager and equal JV Partner, and since PDS is thee financial lifeline of PTSC, if TPL is NOT an "Insider", I can't imagine any relationship which would qualify as one better. Finally, if TPL is not an "Insider", it stands to reason that neither would Allicense nor PDS's Independent Manager be considered one either.

However, I don't buy it. I think TPL is an Insider, and Alliacense too, and so would anyone also be who is on the PDS Board.


Where is TPL's Form 4 covering up to 3,500,000 Warrants ?
"Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned"
"( e.g. , puts, calls, warrants, options, convertible securities)"


As a result of the exclusive licensing efforts of TPL's Alliacense, PDS has received approx $300,000,000 over the past 5-6 years, and approximately $120,000,000 of that then went to publicly traded PTSC; the news of which would eventually appear in some form of subsequent public disclosure with the dollar amounts only finally showing up months later in PTSC's Q & K reports. All three of those entities routinely knew the intimate details of MMP License Fees, successes, failures, Patent challanges and litigation far in advance of any publicly published reports.


*Continued in part 2 due to yahoo posting size limitations