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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We have already attempted to get Brian voted on the Board.. tho an attampt now may be a bit different without Swartz' gazillion shares being able to partyline vote.. still a very tall task to attempt

There has already been an attempt to get a proposal onto the Proxy (and costs incurred) via the proper SEC channels for shareholde vote, which was met with full PTSC resistance and eventually denied.. I believe any new attempt would be met with the same staunch resistance

We have sent multiple letters to the BoD outlining our concerns as shareholders and suggesting alternative ideas to be considered for the improvement in share price.. Outside of Pohl waving it around at that prev ASM, I'm not sure it did a whole lot besides.. get filed, but the effort was exemplary none the less

Shareholders have ask serious questions at those ASMs.. called for resignations.. not much has come from them

The one idea which has not yet been discussed in depth, let alone considered seriously, is the hiring of counsel to scrutinize the BoD regarding their fiduciary responsibility and if, through the yrs and via all their decisions, they could be found negligent in their responsibilities and be held responsible.. That would require a substantially large number of shareholders agreeing to the need, accepting the possible consequences of such an undertaking, and accepting the substantial costs involved. It would a daunting task, but quite possibly the only one that could have the successful outcome many here desire.

jmo.. have a nice weekend

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BaNosser
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12/13/2004
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Patriot Scientific
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