Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: Comments on letter
My initial reactions.
1) Update on USPTO actions on MMP(TM) patent re-examinations
I have stressed the fact that the patent re-examination process is a very complicated and lengthy process. Patent Office actions are publicly disclosed, and we look forward to the final actions by the USPTO. Both Patriot Scientific and TPL are involved in litigation regarding the patents, and comments regarding the status of the various patent re-examinations and patent office actions cannot be made at this time.
In the meantime, TPL/Alliacense continues to engage new licensees as evidenced by the new MMP(TM) license announced with Roland (Japan) this past month.
This is the most important issue facing the company as far as I'm concerned and there is no new information.
It is a good letter but the waiting game continues and thus not much changes.
First, allow me to address the recent market weakness and the continued downward pressure on Patriot Scientific's stock price, despite what we feel should be positively viewed announcements regarding new MMP licensees and M&A activities. We are, of course, concerned with the fundamental market conditions caused by the current financial crises, but cannot control the market sentiment in this environment.
Please, PTSC always gets hammered on good news. It's not due to "recent market weakness." It's gravity that PTSC seems to do well following all of Sir Isaac's laws.
The Crossflow update is good to hear. As is clarification of the share count/buyback numbers. Well done there.
The Avot stake is small and not of much consequence at this time.
The first is to provide adequate "currency value" with which to enable Imperial Capital, Patriot Scientific's investment banker, to carry on discussions with potential operating companies (both public and private). We believe that the potential dilution (20%) will be offset by the ability to attract viable operating entities capable of increasing Patriot Scientific's market capitalization. At recent share prices, this [100,000,000 A/S increase] initiative gives us $20-25 million in additional share value leverage with which to negotiate.
I have to question the math. At current prices, that's $18-19 million before Imperial's cut (and any additional underwriting costs). Even if we assumed a $0.25 share price PTSC wouldn't see $25M of net "currency."
I'm not going to mention the other stuff like the option grant. It's nothing more than housekeeping and I don't have a problem with it. Some things you just have to do.
3 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply