Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.

Free
Message: My post to Mr. Tobak

My post to Mr. Tobak

posted on Mar 21, 2008 04:11PM
I write to request a formal retraction/correction for including Patriot Scientific in your list of "disasters". I know you have already received an earful from upset Patriot investors but the issue is not whether you upset investors, the issue is whether you made a fair reference to Patriot. Your reference to Patriot made it analogous to Mathstar which I submit is a totally unfair comparison. Based on your response, the comparison was made on one factor and one factor only: a substantial price drop since the IPO. There are so many factors that tell the story of why there has been such a price drop that it is irresponsible to lump all companies together who only have that one factor in common. Mathstar's IPO was 2.5 years ago; PTSC IPO was 12 years ago. Since Mathstar's IPO in October 2005, PTSC has gone from .08 to .48 per share, a 600% return and climbing. Mathstar's 2007 financials reflect a 20 million net loss on 500k in revenue; PTSC's most recent financials reflect 21million in cash and zero short term or long term debt. More importantly is PTSC current position in the industry and the most recent developments, i.e. successful litigation of all major challenges to their patents and numerous settlements of which what is expected to be the best numbers in the companies history set to be announced in 2 weeks, hundreds of other potential infringers yet to be accounted for and PTSC stated focus on utilizing the recent substantial cash holdings to acquire a tangible business operation. PTSC also just hired a new, more experienced CEO and for the first time ever added a VP of business development. As such, would you not agree it was a bit irresponsible to include PTSC in your list of "disasters" and in the context of an article about the problems with Mathstar? If so, would you also agree a formal correction is warranted?
Share
New Message
Please login to post a reply