Patriot Scientific

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

After the formal part of the SHM I was standing in a group of about 4-5 people talking with Mr. O. I believe you were standing there too. I am sure that Mr.O discussed with us that he was already in discussions with some of the companies about early settlement. It was something like if they feel that things are not going their way they weren't willing to go all the way. That was exciting to me and the others and I might add to Mr. O. as well. These talks had been going on for a while ( just incase ). OK, that is the part of my recollection that I am confident of.

Now can you or any of the others that were standing there confirm this: the discussion turned to the amounts for settlement in such a situation and someone blurted out "half a billion dollars!" And Mr. O. said something like a nice dream but unrealistic.... but he did offer that the number in such a scenario was more in the 200 million to 250 million range?? Do you recall that as well? I have misplaced my notes and still looking for them.

Because of this news the fact that the 10K came out early doesn't surprise me. If this number were available to us it would also be available to the others we are in litigation with on this. People may think the BOD is dumb or against us, and that may be at times, but in this case concealing the settlement amount keeps the power in their hands and protects us shareholders ( to get the best deal possible in the next round ).

As to the 200 million number that could be way off because that was during the time of the SHM and many things have occurred since then. So .... the number could be more or it could be less.

And also keep in mind that I recall Mr. O saying that there were "a couple" of companies....

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bankerson
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Patriot Scientific
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