Patriot Scientific

Patriot Scientific Reports Profitable Quarter; Q3 FY '08 Net Income $6.3 Million or $0.02 Basic and Diluted Earnings Per Share.

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Re: Brian's Resignation

Patriot Scientific

over 16 years ago

in response to moxa1's message

IMO RIMM is part of a strategy to get serious funding flowing quickly upon USPTO validation.

IMO RIMM was signed just as you imply, with USPTO contingencies. With PTO office validation RIMM pays 50-70% of what they thought the courts would award, and pay nothing if the patents are not validated.

Why would PTSC license in this way? Immediately upon USPTO validation we’ll need the funds in place to quickly prosecute several large companies. The battle will be on, maximizing licensing fees will be the goal. Obtaining the RIMM funds without a court battle will allow us to possibly do a merger and more importantly hire additional law firms. This strategy would get the bulk of the licensing fees into the PTSC coffers as soon as possible. IMO

Bluewing