It has been suggested to me (and perhaps to others) that we consider creating a fund, which would allow us to hire an SEC attorney, to investigate a legal way to remove board members. We have two states to be concerned with, Delaware where PTSC is incorporated and CA where it operates its business. For now, withholding your vote as a show of no confidence for certain board members is the only way that I know of to send them a message to step down. It may have little to no effect, however, it is your voice and it is important.

I recently wrote to investor relations @ PTSC and asked:

If the stockholders wished to present a proposal for consideration at the upcoming annual meeting, what is the proper procedure for accomplishing this? Is it possible to have a revised proxy sent out to include a stockholder proposal?
By what date would we have to submit it for inclusion in the Proxy? If it is too late for an amended proxy what method is available to submit a stockholder proposal for voting purposes?

Their reply:

There are no present plans for revisions to the recently filed proxy. The proceedings should take place on the date and time specified and follow the information provided in the proxy. In the future, the Board should be contacted to suggest initiatives or proposals for consideration by the shareholders.

Patriot Scientific Corporation

Investor Relations

So there you have it.....in the future, the board should be contacted to suggest proposals or initiatives. How likely is it that they will entertain the suggestion to change the bylaws to include: limited terms, majority voting, cuts in pay, etc. etc?

If anyone on this board has a relationship with an SEC attorney, perhaps you might make an inquiry and report back to us.

Laurie