posted
Babble, picked this up when screening stocks and saw the drop. Got in Wed at .082. I believe the support established after the news was good. Further, AMD probably would not have gotten involved if they thought this case was going to be a serious issue. The potential to re-claim lost ground should produce a little bank.
-------------------- "You cannot play them all, so pick good ones and play them well."
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posted
Nice 10% gain on Friday as this one tries to reclaim the lost ground of Wednesday. I believe there was an over-reaction to the news and expect to see a gradual continuation to the lower mid-teens as 'Chicken Little' realizes the sky is not falling.
-------------------- "You cannot play them all, so pick good ones and play them well."
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SAN DIEGO, Calif. - PRNewswire-FirstCall - March 30 SAN DIEGO, Calif., March 30 /PRNewswire-FirstCall/ -- Patriot Scientific Corporation (BULLETIN BOARD: PTSC) will release its third fiscal quarter earnings on Thursday, March 31 after the market closes.
Patriot Scientific will hold a webcast with CEO Jeff Wallin and CFO Lowell Giffhorn on Thursday, March 31 at 4:30 p.m. Eastern. The webcast will cover the company's 2005 third fiscal quarter results.
The webcast will be available on the Internet for one year. In order to listen to the broadcast, viewers will need Version 9 of Windows Media Player, which can be downloaded from the http://www.viavid.net/ website.
-------------------- "You cannot play them all, so pick good ones and play them well."
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Looks like over re-action has paid well for those that got in around the .08 range.
SAN DIEGO, March 31 /PRNewswire-FirstCall/ -- Patriot Scientific Corporation (OTC Bulletin Board: PTSC - News) announced today results for the third quarter and nine months ended February 28, 2005. Revenue for the third fiscal quarter ended February 28, 2005 was approximately $2.9 million, up from revenue of $3,384 for the period ended February 29, 2004. Net income for the third quarter was approximately $600,000, or $0.00 per diluted share, compared to a net loss for the third quarter of fiscal 2004 of $975,894, or $0.01 per share. ADVERTISEMENT
Revenue for the nine months ended February 28, 2005 was approximately $2.9 million, up from revenue of $66,584 for the nine months ended February 29, 2004. Net loss for the nine months ended February 28, 2005 was approximately $1.5 million, or $0.01 per share, compared to a net loss of $3,001,231, or $0.02 per share, for the nine months ended February 29, 2004.
Jeff Wallin, president and CEO of Patriot Scientific, said, "This quarterly profit resulted from licensing agreements for our microprocessor patent portfolio of seven issued patents and our core technology, the IGNITE microprocessor. The patent portfolio license was the first granted under our focused strategy to assure that users of our technology remunerate Patriot. The positive net income in the quarter was negatively impacted by $1.2 million in interest charges. However, as a result of the cash flow from the licensing agreements, we expect to eliminate the need for financings with high interest costs and resultant dilution. For the nine months, an interest charge of $2.4 million accounted for the $1.5 million loss. At the end of the quarter, we had over $1 million in cash and short-term investments, $2.7 million in license fees receivable and approximately $3 million of working capital.
"We are accelerating our licensing policy, which we anticipate will result in additional licensing or settlement fees," Wallin continued. "We also are pursuing our current litigation (Case Number C040439), in which we claim full ownership of one of the more significant patents in the portfolio. Recently, Judge Fogel of the U.S. District Court for the Northern District of California issued an order disqualifying our counsel and prohibiting the testimony of our original patent prosecution attorney. We are currently interviewing alternative counsel to continue the case following a reconsideration motion denied by Judge Fogel."
-------------------- "You cannot play them all, so pick good ones and play them well."
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