As you are aware we have put two motions before the shareholders for approval:
|
|
|
|
|
|
1.
|
|
Increase the authorized shares from 500,000,000 to 600,000,000 shares
|
|
|
|
|
|
|
2.
|
|
Increase the option pool by 5 million shares (~1.25% of the outstanding shares)
|
Both of these initiatives are a consequence of our M&A efforts. 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).
Patriot’s headcount has risen from 4 in January 2008 to more than 25 today. I could project 45 to 50 or more employees by mid-2009 and Patriot simply does not have sufficient option shares available to provide for our existing and planned new employees.
IMO, Goerner will soon make a MA move, with another listed company, that will get us off Bulletin Board status. What will that do to our share price?
