It was not only us, but also Dutton, who had this question:
"The major unanswered question is whether or not the gross revenue of $27.9 million received by Phoenix Digital for the three months ended February 29, 2008, includes the December settlement for the granting by TPL of rights under the Moore Microprocessor Patent Portfolio to NEC Electronics America, Toshiba, Matsushita, and JVC and their respective subsidiaries in the form of license agreements. If in fact the $27.9 million does include this January settlement, it appears that the licenses granted in the three months averaged out to be $ 1.8 million per license....
Considering there were either 12 licenses granted (or 15, if the December settlements from the trial were included), this net income works out to be approximately $450,000 to $550,000 per license granted."
From Goerner's SH-letter from the same day:
"I will not, in the limited context of this letter, recount all the information contained in our April 9, 2008 earnings release, which fully reflects the financial results of all transactions announced prior to the end of January 2008."
From today:
"Since January 2008, the pace of patent license sales has accelerated and, more importantly, the recent sales were to major well known, recognizable names....
Patriot Scientific is debt-free, with a strong cash-heavy balance sheet. We feel comfortable with this new management team and look forward to the execution of the aggressive merger and acquisition strategy."
I cannot find another public statement made by the company since the 10th of April, where he gave any further guidance or the final answer to the question Dutton (and we) raised, thus I find it interesting, that Dutton comes up with a positive statement NOW.
Either they received the answer to their question from April - or they accepted, that there might be no answer, but instead received some new/interesting information by the management.
Anyway, I hope the board returns back to its old discussion quality - glta
