Patriot Scientific der Highflyer 2006
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CARLSBAD, Calif., Feb 29, 2008 (BUSINESS WIRE) -- Patriot Scientific (PTSC:patriot scientific corp com
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PTSC 0.40, 0.00, 0.0%) announced today that President and CEO Jim Turley has resigned from the company effective February 28. Turley also resigned from the company's Board of Directors. The Board expects to name a new chief executive shortly.
"It is with mixed feelings that I announce my resignation from Patriot Scientific," said Turley. "I leave the company in a strong financial and strategic position, but I haven't been able to accomplish many of the things I'd set out to do. I'm optimistic that Patriot will flourish and that its shareholders will be rewarded."
Patriot's Chairman of the Executive Committee, Carlton Johnson, said, "We'd like to thank Jim for his service to the company and for providing us the benefit of his industry experience and knowledge. We wish Jim the very best in his future endeavors."
About Patriot Scientific
Patriot Scientific is a leading intellectual-property licensing company that develops, markets, and enables innovative technologies that satisfy the demands of fast-growing markets for wireless devices, smart cards, home appliances, network gateways, set-top boxes, entertainment technology, automotive telematics, biomedical devices, industrial controllers and more. Headquartered in Carlsbad, Calif., information about the company can be found at http://www.ptsc.com.
An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/ptscprofile.aspx. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive free e-mail notification of future releases for Patriot Scientific, sign up at http://www.hawkassociates.com/email.aspx.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, patent litigation, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
Moore Microprocessor Patent (MMP) and Alliacense are trademarks of Technology Properties Limited (TPL). PTSC is a trademark of Patriot Scientific Corporation. All other trademarks belong to their respective owners.
SOURCE: Patriot Scientific
Patriot Scientific
Media Relations:
The Hoffman Agency
John Radewagen, Vice President, Corporate Communications
408-975-3005 or 408-219-9199 (mobile)
jradewagen@hoffman.com
http://www.hoffman.com
or
Investor Relations:
Hawk Associates
Frank Hawkins or Ken AuYeung, 305-451-1888
info@hawkassociates.com
Friday February 29, 4:15 pm ET
CARLSBAD, Calif.--(BUSINESS WIRE)--Patriot Scientific (OTCBB TSC - News) announced today the appointment of chip industry veteran Rick Goerner as the company's Interim President and CEO succeeding Jim Turley, who resigned his position as the company's President and CEO effective February 28. Goerner’s appointment is effective today.
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Patriot’s Chairman of the Executive Committee, Carlton Johnson, said, "Rick has solid operating experience in the semiconductor industry with companies like Phillips, Silicon Systems, TDK (Japan) and Texas Instruments. He has been involved in the integration of acquisitions, including both chip and software companies, from both sides. The Board is confident that Rick’s knowledge, experience and enthusiasm will help guide Patriot through the current management transition and move our company forward. He has an extensive network with venture capital firms and investment bankers. I look forward to working with him and strongly supporting his efforts."
"I am excited to join Patriot Scientific at this time. I’m pleased that Patriot's Board of Directors has selected me to lead the company through the current management transition and to help position the next stage of growth for Patriot," said Goerner.
"Patriot and Technology Properties Limited (TPL) have seen the Moore Microprocessor Patent (MMP) technology adopted, worldwide, by an expanding list of industry leaders in semiconductor chip technology. The company’s strong cash position and forecast for future cash flow from patent licensing allow Patriot to consider investment and M&A activities that will build a more product-focused company, complementing the ongoing licensing strategy of its valuable patent portfolio. Our plan is to leverage Patriot’s current and future cash flows to create a business with sustainable product growth on a global basis. I expect to continue the evaluation of currently identified potential strategic acquisitions and expand the scope of opportunities in the wireless, software and networking sectors,” concluded Goerner.
Goerner has extensive experience as an operating manager and CEO with technology companies on a global scale. He served as President and COO of the Storage Products Group of Texas Instruments, a one billion dollar supplier of mixed signal and analog ICs for the hard disk drive market. Previously, Goerner served as President and CEO of TransDimension Inc, an Irvine, California based, venture-financed, technology start-up company providing embedded Universal Serial Bus (USB) silicon and software solutions to a global customer base. TransDimension was acquired by Oxford Semiconductor in 2005. Goerner has recently been involved in the development of other early stage technology companies, serving as a Technical Advisor, as Executive Chairman, as a member of the Board of Directors and in the capacity of Interim President and CEO.
Goerner resides in San Juan Capistrano, Calif. and has a BSEE degree from the State University of New York at Buffalo.
About Patriot Scientific
Sunday, March 02, 2008; Posted: 10:20 PM
More Breaking News about PTSCE
§AMO purchases microprocessor patent from TPL Group
§Psion Purchases MMP License
§Daewoo Electronics Purchases MMP License
More News for PTSCE >>
More Resources for PTSCE
§Short Term PowerRatings
§Long Term PowerRatings
§PowerRatings Charts
§Quotes & Charts
Dublin, Feb 29, 2008 (M2 PRESSWIRE via COMTEX) -- PTSCE | news | PowerRating | PR Charts -- Patriot Scientific announced that Advanced Medical Optics (AMO) has purchased a Moore Microprocessor Patent (MMP) Portfolio license from The TPL Group, Patriot Scientific's licensing partner.
AMO is engaged in the development, manufacture and marketing of medical devices for the eye, including diagnostic instruments as well as products used in ocular surgery and laser vision correction.
"AMO is dedicated to improving the quality of vision for others through a full range of advanced refractive technologies," said Carl Silverman, Vice President of licensing for Alliacense. "We are pleased that AMO has joined the rapidly growing list of MMP Portfolio licensees."
The sweeping scope of applications using MMP Portfolio design techniques continues to encourage the world's leading manufacturers of end-user products from around the globe to become MMP Portfolio licensees. More than 40 global companies from the U.S., Europe, Japan, Korea and Taiwan have licensed the MMP Portfolio technologies.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed via M2 Communications Ltd - http://www.m2.com))
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) February 28, 2008
Patriot Scientific Corporation
(Exact Name of Registrant as Specified in Charter)
California 0-22182 84-1070278
(State or Other Jurisdiction
of Incorporation) (Commission
File Number) (IRS Employer
Identification No.)
6183 Paseo Del Norte, Suite 180, Carlsbad, CA 92011
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code 760-547-2700
(None)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------
Item 5.02(b) Departure of Director
On February 28, 2008, Jim Turley resigned from his positions as the President and Chief Executive Officer, and as a member of the Board of Directors, of Patriot Scientific Corporation.
Item 5.02(c) Appointment of Principal Executive Officer
On February 29, 2008, Rick Goerner was appointed to the position of the Interim President and Chief Executive Officer of Patriot Scientific Corporation. Mr. Goerner has extensive experience in management and operational roles, including as chief executive officer with technology companies. From 2002 through 2006, he served as the President and Chief Executive Officer of Transdimension Inc., an Irvine, California-based, venture-financed, technology company providing embedded universal serial bus (USB) silicon and software solutions. More recently, Mr. Goerner has been involved in the development of other early stage technology companies, serving as a technical advisor, as executive chairman, as a member of the board of directors, or in the capacity of interim president and chief executive officer. Mr. Goerner has a Bachelor of Science in electrical engineering degree from the State University of New York at Buffalo.
Item 9.01 Exhibits
99.1 Press Release, dated February 29, 2008.
99.2 Press Release dated February 29, 2008.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned hereunto duly authorized.
Patriot Scientific Corporation
(Registrant)
Date: March 3, 2008 By: /s/ Clifford L. Flowers
Clifford L. Flowers, Chief Financial Officer
--------------------------------------------------
EXHIBIT INDEX
Exhibits:
Exhibit 99.1 Press Release, dated February 29, 2008.
Exhibit 99.2 Press Release dated February 29, 2008.
Advanced Medical Optics
okok....
etwas später aber richtig ...
vergiss es !
Hey Deb re:reverse take over....
Posted by: ptsczza on March 04, 2008 10:49AM
In response to: RTO=Reverse Take Over by d2006s
Firstly isn't the correct term "reverse merger"? and in a reverse merger the publicly traded entity stays publicly traded. If you own shares in PTSC and TPL merges into it you still own your shares, there is no "buyout" per se.
I personally think this is what is about to happen and it can work out very well for us both long and short term as long as the share structure doesn't get messed with too much.
It will be very interesting to see what happens here. I don't think it's to far away. As for your going straight to the shareholders in a proxy fight, well I know how much I want for my shares and I can tell you my bottom wrung is our 2 year high and I don't see any long time long being happy with less than $1.50. TPL simply does not have this kind of money so they either partner up with a whale or they "kiss their sister".
I think we see a reverse merge into PTSC by TPL with an immediate name and ticker symbol change! I will be welcoming it!!
Neue Spekulationen!!
Nach der jüngsten verhaltenen Geschäftsprognose hat der US-Computerhersteller Apple angekündigt, vorerst keine Dividende an seine Aktionäre auszuschütten. Trotzdem verfügt der Konzern über große Barreserven. Die Spekultationen dürften nun weitergehen.
Derzeit habe das Unternehmen nicht vor, eine Dividende zu zahlen oder Aktien zurückzukaufen, sagte Vorstandschef Steve Jobs. Ende 2007 hatte das Unternehmen Barreserven von mehr als 18 Mrd. $. Das löste Spekulationen aus, der Hersteller von iPod und Macintosh-Computern könnte das Geld ausgeben. Was Jobs mit den Mitteln vorhat, bleibt also weiter im Dunkeln.
Zuletzt waren bei Apple die Verkaufzahlen des iPods eingebrochen. Das Unternehmen zeigte sich für 2008 nicht so optimistisch wie von Branchenexperten erhofft. Dass Apple im abgelaufenen Vierteljahr Gewinn und Umsatz überraschend deutlich steigerte, konnte die Stimmung nicht aufhellen.
Gerber Scientific Purchases Moore Microprocessor Patent(TM) Portfolio License
2008-03-06 16:00 ET - News Release
Company Website: http://www.ptsc.com/
CARLSBAD, Calif. -- (Business Wire)
Patriot Scientific (OTCBB:PTSC) announced today that Gerber Scientific, Inc. has purchased a Moore Microprocessor Patent™ (MMP) Portfolio license from The TPL Group. Gerber Scientific is a worldwide leader in integrated automation solutions and related services in several industries, including sign making and specialty graphics, printing and packaging, apparel and flexible materials, and ophthalmic lens processing.
Patriot’s President and CEO, Rick Goerner, said, “There has been tremendous momentum in the market response to our licensing program. We’ve added nine new licensees since the December settlement of TPL’s MMP patent infringement case in Texas and this newest addition continues to validate the strength of our portfolio.”
The sweeping scope of applications using MMP Portfolio design techniques continues to encourage the world’s leading manufacturers of end user products from around the globe to become MMP Portfolio licensees. Over 40 global companies from the U.S., Europe, Japan, Korea and Taiwan have licensed the MMP Portfolio technologies, including many industry leaders such as Fujitsu, Hewlett Packard, Kenwood, Mattel, Nokia, Philips, Sony and Toshiba.
The MMP Portfolio patents cover techniques that enable higher performance and lower cost designs, and are fundamental to consumer and commercial digital systems ranging from DVD players, cell phones and portable music players to communications infrastructure, medical equipment and automobiles which today have dozens of microprocessor-based key features and benefits.
About Gerber Scientific, Inc.
Gerber Scientific, Inc. is a leading international supplier of sophisticated automated manufacturing systems for sign making and specialty graphics, apparel and flexible materials, ophthalmic lens processing, and print and packaging industries. Headquartered in South Windsor, Connecticut, the company operates through four businesses: Gerber Scientific Products and Spandex Ltd., Gerber Technology, and Gerber Coburn. For more information, visit http://www.gerberscientific.com.
About Patriot Scientific
Patriot Scientific is a leading intellectual-property licensing company that develops, markets, and enables innovative technologies that satisfy the demands of fast-growing markets for wireless devices, smart cards, home appliances, network gateways, set-top boxes, entertainment technology, automotive telematics, biomedical devices, industrial controllers and more. Headquartered in Carlsbad, Calif., information about the company can be found at http://www.ptsc.com.
An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/ptscprofile.aspx. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive free e-mail notification of future releases for Patriot Scientific, sign up at http://www.hawkassociates.com/email.aspx.
About the MMP Portfolio
The Moore Microprocessor Patent (MMP) Portfolio contains intellectual property that is jointly owned by the privately held TPL Group and publicly held Patriot Scientific Corporation (OTCBB: PTSC). The portfolio includes seven U.S. patents as well as their European and Japanese counterparts. It is becoming widely recognized that these patents protect fundamental technology used in designing microprocessors, microcontrollers, digital signal processors (DSPs), embedded processors and system-on-chip (SoC) devices. The MMP portfolio is exclusively managed by Alliacense, a TPL Group Enterprise. Manufacturers of microprocessor-based products can learn more about how to participate in the MMP Portfolio Licensing Program by contacting: mmp-licensing@alliacense.com.
About Alliacense
Alliacense is a TPL Group Enterprise executing best-in-class design and implementation of Intellectual Property (IP) licensing programs. As a cadre of IP licensing strategists, technology experts, and experienced business development/management executives, Alliacense focuses on expanding the awareness and value of TPL’s IP portfolios. Founded in 1988, The TPL Group has emerged as a coalition of high technology enterprises involved in the development, management and commercialization of proprietary product technologies as well as the design, manufacture and sales of proprietary products based on those technologies and corresponding IP assets. For more information, visit http://www.alliacense.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, patent litigation, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
Moore Microprocessor Patent (MMP) and Alliacense are trademarks of Technology Properties Limited (TPL). PTSC is a trademark of Patriot Scientific Corporation. All other trademarks belong to their respective owners.
Contacts:
Patriot Scientific, Carlsbad
Media Relations:
The Hoffman Agency
John Radewagen, Vice President, Corporate Communications
408-975-3005, 408-219-9199 (mobile)
jradewagen@hoffman.com
http://www.hoffman.com
or
Patriot Scientific Investor Relations
Hawk Associates
Frank Hawkins or Ken AuYeung, 305-451-1888
info@hawkassociates.com
or
TPL / Alliacense
Shawn Clark, 408-446-4222
shawnc@tplgroup.net
Source: Patriot Scientific
die Zahlen sind selbsverständlich nicht verifiziert sondern zum Teil spekulativ!
Will Market Wake Up to the Following if April Numbers Are Good?
Posted by: lambertslunatics on March 06, 2008 05:43PM
- 43 - Total MMP Licenses to date.
Confirmed Info from SEC Filings
- 25 - Number of MMP Licenses from Feb 2005 through Nov 2007
- $214.85M - Total MMP Licensing CONFIRMED Revenue Generated from Feb 2005 through Nov, 2007 (34 months)
- $8.59M - Average Fee per License (CONFIRMED)
Estimated License Fee info based on historical average of fee paid / annual revenue of licensee of $1/$1956
- 18 - Number of MMP Licenses since December 1, 2007
- $92.6M - MMP Licensing ESTIMATED Revenue generated since December 1, 2007 (3 months 6 days)
- $5.14M - Average Fee per License (ESTIMATED)
Potential Remaining
- 400 plus - Number of companies put on notice of infringement
- 360 plus - Number of companies remaining to sign licenses
- $1.85 BILLION - potential licensing fees based on 360 licenses at $5.14M per license
- $370M - amount per year if above potential fees were spread out evenly over 5 years.
- $166.5M - PTSC share of above after 10% expenses applied
- $41.63M - Annual MMP revenues to PTSC if above guesstimate is DISCOUNTED by 75% due to unknown nature of licensing activity and fees
- $1.59 - Shareprice if above discounted annual revenue is combined with a P/E ratio of 15.
| Date | Licensee | Anl Revs of Licensee (Millions) | License Fee Paid (Millions) | Notes | ||
| 1 | FY05 | 2/22/2005 | AMD | $5,600.00 | $3.05 | |
| 2 | FY06 | 7/7/2005 | Intel | $35,400.00 | $20.00 | |
| 3 | 1/24/2006 | Hewlett Packard | $94,100.00 | $26.40 | ||
| 4 | 2/21/2006 | Casio | $5,200.00 | $2.00 | ||
| 5 | 3/1/2006 | Fujitsu | $42,900.00 | $31.60 | ||
| 6 | Q107 | 6/2/2006 | Sony | $43,600.00 | $25.75 | |
| 7 | 6/12/2006 | Nikon | $6,700.00 | included above | ||
| 8 | 6/23/2006 | Seiko/Epson | $12,300.00 | included above | ||
| 9 | 6/28/2006 | Pentax | $700.00 | included above | ||
| 10 | Q207 | 9/1/2006 | Olympus | $8,600.00 | $6.95 | |
| 11 | 9/20/2006 | Kenwood | $1,400.00 | included above | ||
| 12 | 11/27/2006 | Agilent | $5,100.00 | $8.85 | ||
| 13 | Q307 | 12/11/2006 | Lexmark | $5,100.00 | $7.32 | |
| 14 | 12/18/2006 | Schneider Electric | $5,900.00 | included above | ||
| 15 | 2/8/2007 | NEC (except for NEC America) | $29,900.00 | $15.99 | Attributing 3/4 of 39.8B annl revs | |
| 16 | 2/20/2007 | Funai Electric Co., Ltd. | $3,100.00 | $2.92 | ||
| 17 | Q407 | 3/9/2007 | Sandisk | $3,300.00 | $13.42 | estimated breakout |
| 18 | 4/11/2007 | Sharp | $25,700.00 | $8.72 | estimated breakout | |
| 19 | 5/3/2007 | Nokia | $54,300.00 | $20.95 | ||
| 20 | Q108 | 7/6/2007 | Bull | $1,500.00 | $0.50 | |
| 21 | 8/29/2007 | Lego | $1,500.00 | $1.00 | ||
| 22 | Q208 | 9/7/2007 | DMP Electronics Inc. | ?? | $1.43 | |
| 23 | 9/9/2007 | Denso Wave Incorporated | $400.00 | included above | ||
| 24 | 9/10/2007 | American Power Conversion | $1,600.00 | included above | ||
| 25 | 10/29/2007 | Royal Philips Electronics | $26,400.00 | $18.00 | ||
| Totals | $420,300.00 | $214.85 | ||||
| Ratio | $1,956.23 | |||||
| Based on the above numbers, for every $1956 | ||||||
| in revenue you bring in, you pay $1 in license fee | ||||||
| Below are additional licneses signed but values not reveealed yet | ||||||
| Anl Revs of Licensee (Millions) | Estimated Fee Based on Historical Ratio of $1 License fee per $1956 in Revenues | |||||
| 26 | Q208 - cont | 11/17/2007 | TEAC | $900.00 | $0.46 | |
| 27 | 12/3/2007 | Daewoo | $100.00 | $0.05 | ||
| 28 | 12/6/2007 | WMS Gaming | $500.00 | $0.26 | ||
| 29 | 12/7/2007 | Lite-On-It | $6,800.00 | $3.48 | ||
| 30 | 12/10/2007 | Alpine | $23.00 | $0.01 | ||
| 31 | 12/18/2007 | Matsushita | $77,100.00 | $39.42 | ||
| 32 | 12/18/2007 | JVC | $6,923.10 | $3.54 | ||
| 33 | 12/18/2007 | Toshiba | $45,800.00 | $23.42 | ||
| 34 | 12/18/2007 | NEC Electronics America | $10,000.00 | $5.11 | ||
| 35 | 12/21/2007 | Verigy | $700.00 | $0.36 | ||
| 36 | 1/4/2008 | Humax | $654.00 | $0.33 | ||
| 37 | 1/17/2008 | Psion | $375.00 | $0.19 | ||
| 38 | 2/5/2008 | Tokyo Electron | $7,224.00 | $3.69 | ||
| 39 | 2/8/2008 | Direct TV | $13,160.00 | $6.73 | ||
| 40 | 2/25/2008 | Mattel | $5,970.00 | $3.05 | ||
| 41 | 2/26/2008 | AMO | $1,090.80 | $0.56 | ||
| 42 | Q308 | 2/28/2008 | Citizen | $3,191.10 | $1.63 | |
| 43 | 3/6/2008 | Gerber Scientific | $530.40 | $0.27 | ||
| Q408 TD | ||||||
| $181,041.40 | $92.56 | |||||
| TOTALS | $601,341.40 | $307.41 |
Patriot's Chairman of the Executive Committee, Carlton Johnson, said, "Rick has solid operating experience in the semiconductor industry with companies like Phillips, Silicon Systems, TDK (Japan) and Texas Instruments. He has been involved in the integration of acquisitions, including both chip and software companies, from both sides. The Board is confident that Rick's knowledge, experience and enthusiasm will help guide Patriot through the current management transition and move our company forward. He has an extensive network with venture capital firms and investment bankers. I look forward to working with him and strongly supporting his efforts."
"I am excited to join Patriot Scientific at this time. I'm pleased that Patriot's Board of Directors has selected me to lead the company through the current management transition and to help position the next stage of growth for Patriot," said Goerner.
"Patriot and Technology Properties Limited (TPL) have seen the Moore Microprocessor Patent (MMP) technology adopted, worldwide, by an expanding list of industry leaders in semiconductor chip technology. The company's strong cash position and forecast for future cash flow from patent licensing allow Patriot to consider investment and M&A activities that will build a more product-focused company, complementing the ongoing licensing strategy of its valuable patent portfolio. Our plan is to leverage Patriot's current and future cash flows to create a business with sustainable product growth on a global basis. I expect to continue the evaluation of currently identified potential strategic acquisitions and expand the scope of opportunities in the wireless, software and networking sectors," concluded Goerner.
Goerner has experience as an operating manager and CEO with technology companies on a global scale. He served as President and COO of the Storage Products Group of Texas Instruments, a one billion dollar supplier of mixed signal and analog ICs for the hard disk drive market. Previously, Goerner served as President and CEO of TransDimension Inc, an Irvine, California based, venture-financed, technology start-up company providing embedded Universal Serial Bus (USB) silicon and software solutions to a global customer base. TransDimension was acquired by Oxford Semiconductor in 2005. Goerner has recently been involved in the development of other early stage technology companies, serving as a Technical Advisor, as Executive Chairman, as a member of the Board of Directors and in the capacity of Interim President and CEO.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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http://www.10meters.com
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Wertpapier: Patriot Scientific |
To All Shareholders and Supporters of Patriot Scientific
I'd like to take this opportunity to, firstly, tell you how pleased I am to have the opportunity to join Patriot and, secondly, to update you on progress at your Company.
I know you are all aware that as a public company there are certain disclosures that I cannot make in this type of communication, but I will try to be as frank as the governing laws, and our compliance oversight, will allow.
First, I'd like to acknowledge the departure of two of Patriot's Board members since the last shareholder update, Mr. David Pohl and Mr. Jim Turley. As you all know David was instrumental, with the Board, in positioning Patriot's MMP strategy with our licensing partner, TPL. His insights will be missed, but I have met with David and will be able to maintain contact with him in the future. Jim leaves the Company having outlined a plan to transition the Company from sole reliance on our MMP licensing revenues into an operating company with sustainable growth, profitability and increased shareholder value. It is that mission on which I intend to focus. I will provide more insight into our plans with that regard in subsequent updates.
I've now been on board for one week and have been busy coming up to speed on the various elements of our business, finances and challenges ahead. I've had meetings with TPL, Patriot's investor relations and public relations groups as well as extensive discussion with the Executive Committee of our Board. I'm excited about the future prospects for Patriot and expect to build an infrastructure within the Company to support a more aggressive assessment of business opportunities. Toward that end, I have opened a requisition for a Business Development executive and expect to fill the position shortly.
Additionally, the Board and I are launching a campaign to replace the two open Board seats and we intend to add directors with direct electronics industry experience, and connections, to help direct the Company with respect to possible M&A efforts and help expand our scope of activity. We believe that market conditions are favorable for M&A and that quality opportunities will surface.
From a business perspective, this quarter has been an active one for our licensing activities. Since our last report we have signed, through TPL/Alliacense, six new licenses. We have now expanded the total licensees to 43.
I know that change is both inevitable, and disconcerting, and I ask for your patience, and support during the transition. I welcome your feedback and will strive to answer your inquiries to the best of our ability.
Grüße an alle!
Abenteurer
Interessante Theorie!! M. E. aber ein mögliches Szenario
"Goerner (RG) tells it like it is at the end.
Goerner states:
"I know that change is both inevitable (unvermeidlich), and disconcerting (befremdlich, verwirrend), and I ask for your patience, and support during the transition. I welcome your feedback and will strive to answer your inquiries to the best of our ability".
http://ptsc.com/news/press_releases/20080307.asp
Even a six grader. can read Goerner's paragraph and see that an EVENT will be happening soon. This EVENT will be DISCONCERTING and it will be INEVITABLE
Goerner asks for our patience and support during the TRANSITION.
Disconcerting-- because Goerner knows that a R/S carries a stigma.
Inevitable-- because TPL says that the R/S (Reverse Split-mein Kommentar) is needed for a R/M ((Reverse Merger-mein Kommentar) w/Intella, Simple as that.
On the bright side, even though the R/S will be stigmatic, PTSC and TPL know that it's been done from strength and will be followed strategically with a series of positive events.
Middle paragraphs in the PR:
"build an infrastructure", "assessment of business opportunities", "Business Development" and "possible M&A efforts". This is TPL's directive to maintain the status quo.
Last paragraph of PR:
"I know that change is both inevitable, and disconcerting........"
This paragraph was all Goerner's and his alone. What a way to close his first PR. I like him.
R/S(Reverse Split-mein Kommentar) is imminent, RTO (Reverse Takeover-mein Kommentar) is imminent and MMP consolidation is imminent.
PTSC was never meant to be anything else but TPL's property at the
proper time. The time is almost here and soon the transition will take place..
Still, most of the fanatic cheerleaders in Agora keep hammering,
as they have for almost three years, about an imminent M&A.
What a bunch of egotistical spammers.
The handwritting (literally) is on the wall
All IMO
Goerner is in his 60s now and from 2005 until the present, he has only held BOD and consultant
positions. Maybe this Interim CEO position will be his golden exit from a long career in the tech industry. "
Was allerdings mit "and MMP consolidation is imminent" (=bevorstehend) gemeint ist, verstehe ich nicht.
Was will ich mit einem Maurer, wenn ich nen Fliesenleger brauche ...
Was will ich mit Turley ? Jetzt noch ????