• Lincoln 29,624,189 31-Aug
• 
  
• Warrants 5,000,000 31-Aug
  
• 
  
• Shares 24,624,189 31-Aug
  

• SPE 5,759,940 31-Aug
  
• Warrants 5600000 31-Aug
  
• Shares 159,940 31-Aug
• 
  

• Warrant Tot 10,600,000 31-Aug
  
• Repurchase -2,000,000 4-Sep
  
• Repurchase -3,000,000 10-Jan
  
• Cashless ex -3,500,000 17-Sep
  
• Remain 2,100,000
  

• Shares 24,784,129 31-Aug
  
• Add exercise 2,536,942 17-Sep
  
• Total 27,321,071
  

• Total S & W 29,421,071 based on warrant sale/exercise
  
• Reported 23,737,829
  
• Sold 5,683,242

However this number equals the amount of warrants that SPE had so perhpas Swarcz sold nothing but minor amount in the open market and

everything else was just warranty exercise

13-G

Shared Voting Power 23,737,829 *

On September 17, 2007, a warrant holder exercised 3,500,000 warrants on a cashless basis, receiving 2,536,942 shares of our common stock upon exercise

On September 4, 2007, we repurchased 2,000,000 warrants for $799,647 pursuant to the terms of our warrant repurchase agreement with Lincoln Ventures, LLC.

On October 2, 2007, we repurchased the remaining 3,000,000 warrants for $1,039,398 pursuant to the terms of our warrant repurchase agreement with Lincoln Ventures, LLC

The report was filed effective Aug 31

arrants Repurchased. By the time of the shareholders’ meeting we will have bought back all the remaining outstanding warrants held by Lincoln Ventures. This action, which we announced on July 24, eliminates the last of the warrants held by Swartz and Lincoln since they became long-term supporters and shareholders of Patriot Scientific.

(8) Includes 5,000,000 shares issuable upon the exercise of warrants. The documents governing Lincoln Ventures, LLC’s (“Lincoln”) warrants contain a provision prohibiting Lincoln from exercising warrants for shares of Common Stock if doing so would result in it and its affiliates beneficially oOn October 2, 2007, we repurchased the remaining 3,000,000 warrants for $1,039,398 pursuant to the terms of our warrant repurchase agreement with Lincoln Ventures, LLC.wning shares of Common Stock representing more than 9.99% of the outstanding shares of Common Stock as determined under Section 13(d) of the Securities Exchange Act of 1934. If Swartz Private Equity LLC (“Swartz”) were determined to be an affiliate of Lincoln, then Lincoln’s exercisable warrant position would be reduced to the extent necessary to limit the combined beneficial ownership of Lincoln and Swartz to 9.99% of the Company’s outstanding Common Stock.



(9) Includes 5,600,000 shares issuable upon exercise of outstanding stock options exercisable within 60 days of August 31, 2007.

he following table sets forth, as of August 31, 2007, the stock ownership of each officer and director of the Company, of all officers and directors of the Company as a group, and of each person known by the Company to be a beneficial owner of 5% or more of its Common Stock. The number of shares of Common Stock outstanding as of August 31, 2007, was 389,372,340. 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. No person listed below has any option, warrant or other right to acquire additional securities of the Company, except as otherwise noted. Other than Lincoln Ventures, LLC and Swartz Private Equity, LLC, each individual’s address is Carlsbad Corporate Plaza, 6183 Paseo Del Norte, Suite 180, Carlsbad, California 92011. The address of Lincoln Ventures, LLC and Swartz Private Equity, LLC is 1120 Sanctuary Parkway, Suite 325, Alpharetta, GA 30004.

Name Amount & Nature of

Beneficial Ownership Percent of Class

Gloria H. Felcyn, CPA 1,439,700 (1) *

Helmut Falk, Jr. 3,428,231 (2) *

Carlton M. Johnson, Jr. 1,675,000 (3) *

David H. Pohl 2,657,846 (4) *

Thomas J. Sweeney 275,000 (5) *

James L. Turley 1,075,000 (6) *

Harry (Nick) L. Tredennick III 100,000 (7) *

Lincoln Ventures, LLC 29,624,189 (8) 7.61%

Swartz Private Equity, LLC 5,759,940 (8) 1.48%

All directors & officers as a group (7 persons) 10,650,777 (9) 2.74%