SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* MCMURREY ROBERT M (Last) (First) (Middle) 5178 AIRPORT FREEWAY (Street) FORT WORTH TX 76117 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol TELETOUCH COMMUNICATIONS INC [ TLLE ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) Chief Executive Officer
	3. Date of Earliest Transaction (Month/Day/Year) 08/11/2011
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/11/2011		S		15,000,000	D	(1)	15,650,999	I	By TLL Partners, L.L.C.
Common Stock	08/11/2011		S		10,000,000	D	(2)	5,650,999	I	By TLL Partners, L.L.C.
Common Stock	08/11/2011		S		2,000,000	D	(3)	3,650,999	I	By TLL Partners, L.L.C.
Common Stock								1,200,000	I	By Rainbow Resources, Inc.
Common Stock								40,442	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Call Option (right to buy)	$1	08/11/2011		P		25,000,000		08/16/2011	11/16/2012	Common Stock	25,000,000	(4)	25,000,000	I	By TLL Partners, L.L.C.
Put Option (obligation to buy)	$1	08/11/2011		S			25,000,000	11/17/2012	12/16/2012	Common Stock	25,000,000	(4)	25,000,000	I	By TLL Partners, L.L.C.

1. Name and Address of Reporting Person* MCMURREY ROBERT M (Last) (First) (Middle) 5178 AIRPORT FREEWAY (Street) FORT WORTH TX 76117 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner X Officer (give title below) Other (specify below) Chief Executive Officer

1. Name and Address of Reporting Person* TLL PARTNERS, L.L.C. (Last) (First) (Middle) 5718 AIRPORT FWY (Street) FORT WORTH TX 76117 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PROGRESSIVE CONCEPTS COMMUNICATIONS, INC. (Last) (First) (Middle) 5718 AIRPORT FWY (Street) FORT WORTH TX 76117 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. As part of a settlement of various matters, TLL Partners, L.L.C. ("TLLP") transferred 15 million shares of Common Stock to one of its members (i) in redemption of all outstanding Series A Preferred Unit membership interests (the "Preferred Units") in TLLP held by that member and (ii) the further consideration of a cash payment by that member to TLLP in the amount of $2,250,000.

2. As part of a settlement of various matters, TLLP transferred 10 million shares of Common Stock to one of its members (i) in redemption of all outstanding Preferred Units in TLLP held by that member and (ii) the further consideration of a cash payment by that member to TLLP in the amount of $1,500,000.

3. As part of a settlement of various matters, TLLP paid $3,290,000 and transferred 2 million shares of Common Stock to its senior lender in full settlement of all obligations then outstanding under its senior loan agreement.

4. As part of a settlement of various matters, the total 25 million shares of Common Stock described in notes (1) and (2) above are subject to (i) a call option in favor of TLLP which will permit TLLP for a period of 15 months to purchase some or all of such shares at an exercise price of $1.00 per share, and (b) a put option in favor of the 2 former members referenced above to sell to TLLP for thirty 30 days following the conclusion of the 15-month option period some or all of such shares then held by those former members at an exercise price $1.00 per share. Beginning on March 17, 2012, the former members are free to distribute, sell or otherwise dispose of the shares subject to the call option. If they do so, the number of shares subject to the call option and the put option will be reduced on a share-for-share basis.

Remarks:

TLL Partners, L.L.C., a Delaware limited liability company ("TLLP"), is the direct owner of all the shares shown as beneficially owned indirectly by Robert M. McMurrey by TLLP. TLLP does not beneficially own any other shares directly or indirectly. Mr. McMurrey is the sole manager of TLLP, and Progressive Concepts Communications, Inc., a Delaware corporation ("PCCI"), owns all the common membership interests of TLLP. Mr. McMurrey controls PCCI. Mr. McMurrey and PCCI have shared voting and dispositive power with respect to all the shares owned by TLLP. Mr. McMurrey controls Rainbow Resources and is the direct owner of the 40,442 shares shown as owned directly.

	/s/ Robert M. McMurrey	08/15/2011
	/s/ Robert M. McMurrey, Managing Member for TLL Partners, LLC	08/15/2011
	/s/ Robert M. McMurrey, Chief Executive Officer, Sole Director for Progressive Concepts Communications Inc.	08/15/2011
	** Signature of Reporting Person	Date
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