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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Re: How will PDS pay TPL-jldmt

Patriot Scientific

almost 13 years ago

in response to jldmt's message

If I am reading this correctly, there is no way Leckrone is obgligated to pay PTSC from any revenues other than those derived from the MMP. corrections welcome.

Pursuant to the quarterly report

1) allocate to PTSC $1,100,000 at the rate of five and ten percent of future distributions due to TPL as a member of PDS (emphasis by me)

3) we have agreed to have PDS pay TPL for certain litigation and reexamination support services at the rate of $172,000 for June 2011, and $86,000 per month thereafter until 60 days after the Markman hearing in the current patent infringement litigation

On October 7, 2011 PDS’ cash balance is $79,130 p. 23

In #1 it says payment from future distributions, in #3 it doesn't say anything about future distributions. PDS is supposed to begin payments to TPL from June 2011 to March 2012(60 days after Markman). Where is this money coming from?