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: epd262 / Re: Is it possible?

Patriot Scientific

over 12 years ago

in response to epd262's message

I don't think so. If you follow the criteria, you'll see:

At time contract is entered into: If license agreement is signed, then it is "entered into".

License method is determined: I don't think either side would complete requirement no. 1 (sign a license agreement) without having already worked out whether it's an upfront payment or ongoing royalties.

The client is provided with the licensed tech: Well, the reason we're getting them to sign is because they've been using the tech already. This clause is more for the new product sales like the PDSG and or Holcom stuff, but in the MMP case, the tech is already there.

So IF THEY SIGNED BEFORE NOVEMEBER, the contract revenue (whether lump sum or receivable due to ongoing royalty) should be reflected in the 10q.

Let's HOPE that if GE and Motorola did indeed sign, that it was after 11/30/11!