once all warrants and options are included(50%PTSC/50%TPL)?
It all depends on what percentage of the global market that the licenses return, for example, 1% gives $2bn or $20bn over 10 years. That would be a very poor ROCE! For $20bn to be viable, license fees must be at least 4%($80bn over 10 years) as a risk factor has to be included in that there might evolve superior technolgy which doesn't breach the licenses.
Notwithstanding all the above, Patriot still owns "Ignite" and "Inflame" which I feel will come into their own once VoIP is universal.
hootchi
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