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Message: PTSC “To-Do” List Scorecard (as of 9/12/08)

PTSC “To-Do” List Scorecard (as of 9/12/08)

posted on Sep 12, 2008 10:48AM

PTSC September/October Company related events completed/ not completed (info based on CEO Rick Goerner statements and some IMO which I will reference as such):

Check it off as Complete:

Ø (Done) September 1st – Complete Acquisition of Crossflo

Ø (Done) September 8th – Acquired 19.5% stake in video to mobile company. It is Avot Media (….sorry Droplet, maybe next time)

Ø (Done) September 9th - Post an updated Patriot Scientific business overview (i.e. the slide presentation) on the Company’s website for investor review and comment.

Ø (Done) July 21, and August 20th Retain Ibis (obtain institutional investors) and Imperial Capital (examine potential M & A).

Still to do:

1) Evaluate (acquire or add a small stake?) a “Textual Analysis and Search Software Company”. Comment (IMO): Mentioned as far back as the August Business Overview Presentation, and in Slide 10, 13, 14, & 15 of the September 2008 Business Overview. Should see conclusion of this evaluation fairly soon, don’t y’all think?

2) Further updates on IP expansion. RG stated in last SH letter, “We have held preliminary discussions with the developers of advanced networking IP technology for Digital Subscriber Line (DSL) applications."

3) Iameter Acquisition. Comment (IMO): Listed on circle Plots on Page 15 & 16 of September 2008 Pres, but no text anywhere about it. Somewhat inconsistently, it is not listed Slide 14, it just says under evaluation.

4) Hiring of an additional marketing and business development person. Comment (IMO): Sure is overdue. Come end of next week, it will be at least a 2 month search.

5) Announce details about planned conferences RG will attend and present to through the end of the year. RG stated, “Ibis is coordinating subsequent meetings through year-end, including several industry conferences. These venues represent an opportunity to outline the strength of the Patriot transition story. We will have more information on these conferences as details become available. Perhaps, as FS2006 provided, they will speak at one of the two upcoming Imperial Business Conferences. The first one is on October 22, 2008 in Washington D.C. and its named Homeland Security Investors Conference. Seems relevant to our company’s direction. Second one is Global Opportunities Conference in New Your November 17-18, 2008.

6) Shareholder Letter # 7 Comment (IMO: Somewhere in the September 18, 19, 22, 23 timeframe if he keeps up his historical average of a letter every 28-30 days. End of next week...?

(IMO) What would be nice to see in there is…

- ARS update. Deutsche Bank reached a deal with regulators on 8/22/08 --- they agreed to buy back around 1 Billion on 8/22/08.

- Details about Annual Shareholder’s meeting Comment: RG stated in July SH letter that we would have additional details by late September.

- Update us on Imperial Capital’s progress initiating contact with public “companies of interest”.

- NuPower progress

- Litigation – Comment: Nah. And that’s a good thing, legally. Seems our forum is well on top of the USPTO thing anyway, Image File Wrappers and all....

7) Update the Website to reflect new direction (as well as licensing). Comment (IMO): Seems to me that it is about time to update the text part of the website to reflect/integrate our new direction. We have a full acquisition now (Crossflo) and stakes in a few other companies; it’s lets reflect the “Data sharing and Secure Data Solutions for a Connected World” direction for PTSC on their website. It wouldn’t surprise me if this in the works and updated prior to Annual SH meeting.

8) IMO….Cohen Update – – PTSC purchased their 1-year coverage for $49,500. We had big report on 10/16/07, then subsequent updates on 12/20/07, 6/9/08, and 7/18/08. Comment: We are due for another one, especially with the M&A machine getting into motion since July, and especially with the year coverage almost up. Yes, we are getting the Dutton updates too surely.

I am sure I left some other items out, but they escape me at the moment. Much of the above items can be gleaned from RG’s shareholder letters or presentations – if its in italic, then it is my opinion (IMO) on things and not meant to be stated as fact.

StormKing

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