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

Free
Message: Re: Patriot Scientific Corporation Releases First Fiscal Quarter Report EOM

Patriot Scientific Corporation Releases First Fiscal Quarter Report

CARLSBAD, Calif., Oct 09, 2009 /PRNewswire-FirstCall via COMTEX/ -- Patriot
Scientific Corporation (OTC Bulletin Board: PTSC) today reported the filing of
its report on Form 10-Q for its fiscal 2010 quarter ended August 31, 2009.

The Company's results included $0.1 million in revenues, compared to $1.4
million in revenues for the same quarter of the prior year, the decrease
attributable to the May 2009 deconsolidation of Holocom, Inc., and its exclusion
from the consolidated operating results. Results from its investment in
affiliated companies which primarily represents Phoenix Digital Solutions, LLC
(PDS), Patriot Scientific's joint venture with The TPL Group, who are co-owners
of the MMP(TM) Portfolio and responsible for its management and
commercialization, were a $0.3 million loss as compared to $6.6 million in
earnings for the year earlier quarter.

The Company's net loss totaled $2.0 million for the first quarter of fiscal 2010
compared to net income of $3.2 million for the comparable period of fiscal 2009.
Included in the current quarter's net loss are one time charges of $0.7 million
associated with the write down of the Company's investment in Talis Data
Systems. The Company's cash, cash equivalents and marketable securities
increased by $1.4 million to $18.3 million during the current quarter.

No conference call is scheduled at this time.

The Company also filed today its report on Form 8-K announcing a major
restructuring of executive personnel which is more fully described in a separate
news release.

Patriot Scientific is the joint owner, with The TPL Group, of the Moore
Microprocessor Patent, or MMP(TM) Portfolio, key patents covering the design of
microprocessor chips which are used throughout the world in products ranging
from computers and cameras to printers, automobiles and industrial devices.
Microprocessor chips are the "brain" of nearly every electronic and electrical
device including home appliances, televisions, video game players and cell
phones.

About Patriot Scientific Corporation

Headquartered in Carlsbad, California, Patriot Scientific Corporation provides
data sharing and secure data solutions for a connected world. Patriot Scientific
addresses the expanding market opportunities in the healthcare, justice and
public safety industries through its wholly owned subsidiary Patriot Data
Solutions Group, Inc. These growth activities are funded with revenues
generated, in a large part, from the continuing successful Moore Microprocessor
Patent(TM) Portfolio licensing partnership with The TPL Group. Patriot
Scientific's integrated core intelligence solution addresses the critical
data/information sharing needs of the healthcare industry, the Department of
Homeland Security, the Department of Justice, and federal, state, and local
public safety and law enforcement agencies. For more information on Patriot
Scientific Corporation, visit: www.ptsc.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Statements in this news release looking forward in time involve risks and
uncertainties, including the risks associated with the effect of changing
economic conditions, trends in the products markets, variations in the company's
cash flow, market acceptance risks, patent litigation, technical development
risks, seasonality and other risk factors detailed in the company's Securities
and Exchange Commission filings.



    Contact:
    Angela Hartley
    Investor Relations
    ir@ptsc.com
    760-547-2700  ext. 102

Share
New Message
Please login to post a reply