Here is where I think we're at, and as always I'm open to correction and welcome discussion (that's the whole point of making this post!).

First, where we've been recently.

In the NDoC we saw Judge Grewal basically reverse his prior Claim Construction (inviting an Appeal), and until very recently it was unknown whether an Appeal would be pursued (it is my understanding that this decision was not the "slam dunk" you'd expect, and that certain parties - Creditors Committee - were actually opposed, so I was very happy to see this proceed). It'll be a significant period of time until we see any results from this effort, but must hope for strong arguments to demonstrate that Grewal's latest interpretation from Patent Prosecution History is incorrect or taken out of context. In any case, the fact that we're pursuing an Appeal is really good news, or perhaps better stated that it sure beats the alternative which would have really put the future of the MMP in doubt. The MMP now has a future in the USA.

As ShBoomer pointed out recently, the BK Court has apparently directed TPL/DL to pay certain legal expenses, but supposedly has no money. It appears the amount to be paid is over $1M (net). It'll be interesting to see how this plays out, but as ShBoomer suggested, this could open the door to a Chapter 7 BK. Please correct me if my recollection is wrong/off, but don't the terms of the ComAg state that if PTSC or TPL enter Chapter 7 BK, full ownership of the MMP is passed to the surviving partner? If this is correct.......it would be a good thing (understatement!). Here it may be a situation of whether the BK Committee wants to cough up the money to prop up TPL. Seems a long shot that they would, especially when considering the above hesitation to pursue an Appeal (assuming a source of hesitation is the associated cost).

Since Dominion Harbor was engaged as new Licensing Agent, they've had very, very little to work with towards communicating with suspected infringing entities previously legally notified. This is of course because, in direct conflict with Agreements, DL/Alliacense has withheld necessary info/data to enable the effort. Though it completely amazes me that PTSC, via PDS, had to point out this basic and obvious problem to the BK Court/Judge Johnson, the court has been made aware and is apparently going to direct immediate attention to this problem. This is huge, assuming the Judge can make things happen.

Recently, we've seen all-time lows in the PPS. This I believe is a reflection of our lack of a future (until recent events and events that may be about to unfold in the near term). After all, when PTSC (per last filing) has no debt, about $4M in the bank, and theoretically half of the money PDS has on hand, or another $500K. Just based on cash on hand/available, the PPS should be at a little over a penny. It's not. I think that - again - until recent events and events that may be about to unfold in the near term, there was no visible future for PTSC.

No licensing, no real ability to even attempt licensing, Appeal NDoC or not - these things spelled no future. Now we've got the Appeal going, and a reasonably high probability of Judge Johnson taking firm, immediate action to get us the data from Alliacense (hopefully ALL the data, not just half) to enable pursuit of infringers and licensing. Then there is the possibility of DL/TPL going into Chapter 7, and what that would mean (assuming my recollection is correct).

I'm obviously thinking that this investment has or is about to have a renewed future. Brightness unknown, since there remain hurdles, but a future which wasn't apparent a month ago, is faintly visable now, and hopefully tangible soon - within weeks.

FWIW, and discussion, alternative opinions, corrections, elaboration, etc., is welcomed.

SGE