Not to argue, but what they actually said was neither what I said or what you said. Here's what Pohl told us:
"The licensing successes to date triggered the need to comply with various confidentiality agreements that now apply to Patriot. This prevents us from announcing the dollar amounts of revenues related to individual license agreements except to report revenues in our quarterly financial statements filed with the SEC. As a general rule, our portfolio license fees - whether or not discounted as a result of negotiation strategy - are related to the relevant revenues generated for a licensee by products associated with the licensed technology, rather than the overall size and revenue of the company purchasing a license.
We are very aware that our shareholders and the investment community have been waiting for news that will reveal the revenue realized by Patriot from the licenses that have been signed since June 1, 2006. We expect to release this information in October, 2006. Financial results for the fiscal year ending May 31, 2006 will be reported on the Form 10-KSB, which is expected to be filed by October 13, 2006. Financial results for the first quarter of the new fiscal year, covering the period from June 1 through August 31, 2006, will be reported on our Form 10-Q, which is due to be filed by October 15, 2006. "
I'm not sure, but I don't think "normal business transactions" unique due to their ability to only sign the deal once or not, are required to be filed with the SEC except as required through the quarterly reporting. I understand you're veiwing them as "material events" but if they aren't so from a financial standpoint, I'm not sure they can be classified as such. Is there something that you are looking at that would clarify that requirement?
