The company's recent success is a result of a promising joint-venture formed in June, 2005, with the TPL Group. Alliacense, a TPL entity, manages the commercialization of this jointly-owned patent portfolio. Initial licensing efforts generated approximately $100 million in total license fees through the third quarter of calendar 2006, of which $38 million was received by Patriot since the first license was signed in 2005.
http://ptsc.com/corporate/index.asp
Our revenues declined from approximately $10,310,000 for the fiscal year ended May 31, 2006 to approximately $639,000 for the fiscal year ended May 31, 2007. Our revenue amounts do not include approximately $27,848,000 and approximately $48,965,000 in income resulting from our investment in Phoenix Digital Solutions, LLC for the fiscal years ended May 31, 2006 and May 31, 2007, respectively.
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