Patriot Scientific

Patriot Scientific Reports Profitable Quarter; Q3 FY '08 Net Income $6.3 Million or $0.02 Basic and Diluted Earnings Per Share.
in response to l2007s's message

I saw your post about the dismissal, and wanted to provide this response before I leave to get ready for "football afternoon".

I'm not sure about CA law on this point, but, in thinking further on this subject, it may be that we will not see a separate dismissal actually filed in the lower court. Once an appeal is taken, the jurisdiction of the lower court is usually deemed to have been divested, which means that only the appellate court can conduct proceedings or take action in the case. As a result, it may be that formal notice of dismissal is required only to the higher court, although I would think that there would be some kind of notice, even if merely by copy, given to the trial court.

In any event, the dismissal is official, which means that the settlement agreement should have been completely formalized and executed by now. As a result, and although it is only an estimate on my part, I would say that if the agreement is not made public within the next 10 - 15 days, we will probably never see such done unless it is made a part of the next quarterly report (if there is one).

Best wishe to you and all.

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ronran
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