Dutton Associates Announces Investment Opinion: Patriot Scientific Rating and Price Target Maintained By Dutton Associates
EL DORADO HILLS, Calif.--(Business Wire)--Dutton Associates continues its coverage of Patriot Scientific
(OTCBB:PTSC) maintaining its rating and price target at Speculative
Buy and $.75 respectively. The 15-page report by Dutton senior analyst
Richard W West, CFA is available at www.jmdutton.com as well as from
First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading
financial portals.
Patriot Scientific Corporation's new business course began in June
2005, after a change in top management, when the Company began to
execute its new strategy to become a dedicated intellectual property
(IP) company by licensing the portfolio of microprocessor patents
which run until 2015. Patriot Scientific has granted licenses for the
portfolio of microprocessor patents to 20 major microprocessor
manufacturers, either directly or through the partnership with TPL,
detailed in the report. Patriot Scientific cleaned up its balance
sheet in 2006 and its balance sheet as of May 31, 2007, is quite
strong, with a current ratio of over 15.5 to 1 and working capital of
$ 29.4 million. Patriot Scientific's potential for royalty revenue,
while specifically incalculable, is quite large. Patriot Scientific's
patents address a large potential market of over 500 electronics
manufacturers. Over 300 manufacturers already have been put on notice
for possible infringement of the microprocessor patents. This report
details the current status of Patriot Scientific, the current status
of the litigation against Matsushita Electric Industrial Co., Ltd., et
al, the U.S. Patent Office reexamination of Patriot Scientific's
patents, and the possible risks involved in an investment in Patriot
Scientific. We believe that at the current market value, the major
potential from continued royalty revenue, the progress made in
repurchasing its outstanding warrants, and the securing of a partner
to develop the technology of its subsidiary Holocom, outweigh the
risks and we reiterate our Speculative Buy rating.
About Dutton & Associates
Dutton Associates is one of the largest independent investment
research firms in the U.S. Its 30 senior analysts are primarily CFAs,
and have expertise in many industries. Dutton Associates provides
continuing analyst coverage of over 140 enrolled companies, and its
research, estimates, and ratings are carried in all the major
databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program
is US $39,500 prepaid for 4 Research Reports, typically published
quarterly, and requisite Research Notes. We received $35,000 from the
Company for 4 Research Reports with coverage commencing on 11/27/2006.
The Firm does not accept any equity compensation. Our principals and
analysts are prohibited from owning or trading in securities of
covered companies. The views expressed in this research report
accurately reflect the analyst's personal views about the subject
securities or issuer. Neither the analyst's compensation nor the
compensation received by us is in any way related to the specific
ratings or views contained in this research report or note. Please
read full disclosures and analyst background at www.jmdutton.com
before investing.
Dutton & Associates
John M. Dutton, 916/941-8119
Copyright Business Wire 2007