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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Patriot Scientific

about 12 years ago

Licenses, Patents, Trade Secrets and Other Proprietary Rights (Page 6)

We rely on a combination of patents, copyright and trademark laws, trade secrets, software security measures, license agreements and nondisclosure agreements to protect our proprietary technologies. Our policy is to seek the issuance of patents that we consider important to our business to protect inventions and technology that support our microprocessor technology.

We have five unexpired U.S. patents issued dating back to 1989 on our microprocessor technology. We have one unexpired microprocessor technology patent issued in two European countries and one unexpired patent issued in Japan. These patents in the U.S and overseas are currently set to expire between 2013 and 2016. We may file additional applications under international treaties depending on an evaluation of the costs and anticipated benefits that may be obtained by expanding possible patent coverage.

Additional applications??????...Life after Death???...Please quantify "anticipated benefits"...How long?..What value?..Seems any $$$ is better than nothing...

Employees

At May 31, 2012, we have three employees. All employees are full time. We also engage consultants and part-time persons, as needed.

Our future success depends in significant part upon the continued services of our key personnel. The competition for highly qualified personnel is intense, and there can be no assurance that we will be able to retain key employees. Too Funny to comment !!!!!!

Page 11 - A claim construction hearing was conducted on January 27, 2012 in all three matters. The Court issued a partial ruling on June 12, 2012, upholding our construction of most claims terms at issue. The ruling requested further briefing from the parties on several terms. We expect that briefing to be completed in summer 2012, but we do not know when the remaining portion of the claim construction ruling may be issued by the Court.

Page 13 - On August 15, 2012 the closing price of our stock was $0.14 and we had approximately 685 stockholders of record. Because most of our Common Stock is held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of beneficial owners represented by these record holders.

Net loss

Page 20 - We recorded a net loss for the fiscal years ended May 31, 2012 and 2011 of $4,820,405 and $11,515,390, respectively.

LIQUIDITY AND CAPITAL RESOURCES

Liquidity

Our cash and short-term marketable securities balances decreased from approximately $10,661,000 as of May 31, 2011 to approximately $7,606,000 as of May 31, 2012.

Page 29 - ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table sets forth, as of August 15, 2012, the stock ownership of each of our officers and directors, of all our officers and directors as a group, and of each person known to us to be a beneficial owner of 5% or more of our Common Stock. The number of shares of Common Stock outstanding as of August 15, 2012, was 405,575,249. Except as otherwise noted, each person listed below is the sole beneficial owner of the shares and has sole investment and voting power over such shares.

Name	Amount & Nature of Beneficial Ownership			Percent of Class
Gloria H. Felcyn, CPA		1,201,690	(1)		*
Carlton M. Johnson, Jr.		775,000	(2)		*
Clifford L. Flowers		900,000	(3)		*
All directors & officers as a group (3 persons)		2,876,690	(4)		0.71%

*Less than 1%

(1)	Includes 250,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 15, 2012.

(2)	Includes 250,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 15, 2012.

(3)	Represents shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 15, 2012.

(4)	Includes 1,400,000 shares issuable upon the exercise of outstanding stock options exercisable within 60 days of August 15, 2012. Comment: Does the BOD anticipate "something substantial" to cause the SP to rise significantly between Aug 15 and Oct 14???..Stay tuned !!