Dear Mr. Goerner,
On behalf of Patriot Scientific shareholders from the Agoracom investors’ board, I am forwarding a list of questions, compiled by the members, which are of great concern to us all.
In light of several recent events, these questions need to be addressed, and the up-coming webcast is an excellent opportunity for you to talk about these critical issues.
Thanking you in advance,
CPJB (Rosewood)
PTSC Shareholder Webcast: April 14th, 2009 … 4:30 p.m. EST
Shareholder Questions:
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MMP: - valid or rejected?
- Is Alliacense still authorized to license the MMP portfolio on behalf of Moore and PTSC? Is any change to that arrangement being discussed?
- Why wasn't the "final rejection" of the 336 patent a "material event", and what are our plans for appeal?
- How much weight does the German patent carry? What are we doing with German patent? Does the rejected USPTO patent effect what we are doing with German patents? Why was there no disclosure that the Patent was being revalidated in Germany?
- What is the current status of the '148? (PTO/TPL)
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Moore vs. TPL: - threat or non-event?
- Why isn't the Moore dispute & arbitration request, which apparently occurred some time ago, a material event? Why do you think this event is not material enough for PTSC shareholders to be advised?
- When did PTSC first learn of the formal (Demand for Arbitration) dispute between Moore and TPL on the MMP ownership?
- Moore/USPTO re-validation –Is Moore still involved and cooperating with the USPTO re-validation process?
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TPL Expenses: -
- Is management confident that expenses billed by TPL Ventures are connected to licensing?
- Are you planning an audit of TPL after the allegations from Moore?
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Phoenix Digital Solutions –
- In light of Mr. Moore's disclosure that PTSC are allegedly paying TPL 15% off the top for expenses, why are the legal fees so high?
- Will PTSC be renegotiating the PDS Commercialization Agreement?
- Who comprises the Board of Directors of PDS? Who were they selected or appointed by?
- Do you think that the current arrangement of two TPL appointees and one PTSC appointee to the PDS management committee is fair and reasonable, considering that the original intent was for the third appointee to be independent of and acceptable to both companies?
- M & A: - Are plans for M & A activities on hold, due to lack of money?
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Crossflo: - profitable or not profitable in fiscal year 2009?
- Your Crossflo revenue projection was $6 mil in 2009 - Why such a small piece, when hospitals & doctors are projected to be spending billions in 2009/2010 to convert their medical records systems, in order to benefit from the stimulus package beginning in 2011?
- Do we have an adequate sales & marketing team in place to capture a bigger piece of this pie, and do you plan to adjust your revenue forecast upward for 2009?
- Why would a hospital/doctor choose Crossflo's solution over GE's, IBM's or the dozens of other solutions being marketed? What is our competitive advantage?
- What is an "average" sale amount for Crossflo's solution per hospital or doctor?
- Holocom, Talis, Avot: - next steps
- Avot: - Are we planning on investing more into Avot?
- Nupower: - Who is licensing their technology? TPL? In-house? Newpower/PTSC combo
- Stock Repurchase Plan: - stopped?
- Shwartz & Lincoln - What is the current status of S&L (i.e., shares held, intent)?
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Board of Directors –
- Is Mr. Goerner actively pursuing the addition of one more board member as previously discussed? If so, will they be completely independent of any current or past PTSC relationships (i.e.) perhaps through connections Mr. Goerner has established that have no affiliation with Patriot. We have seen no other appointments since the addition of Mr. Schrock.
- Is the BOD considering a pay cut if the company continues to underperform?
- PTSC monitoring Agora board? - Does PTSC have someone that regularly visits the Agoracom board to get a feel for shareholders’ sentiment and input since shareholders no longer have a representative for this purpose?
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8K Material Event - If you believe an "8K Material Event" filing is not necessary, are you following the "spirit" of why 8Ks are required? The SEC listing of the required situations/conditions for a mandatory 8K filing is AT MINIMUM?
