RE: pli should buy hmlYour concern about MONEY (financing) in a HML takeover by PLI is well taken, and one I had myself and tried to address in my item e) when I originally posted.
However I think that a partnership between PLI and Catalyst would be the best of both worlds. PLI has the technology, Catalyst has the MONEY, and the multimillion dollar facility is available to them for pennies on the dollar by taking out HML in partnership. I think this route is superior in the long term for PLI versus leaving Catalyst in sole control of HML and receiving royalties from them.