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Message: Notes from 10KSB

Notes from 10KSB

posted on Nov 02, 2005 09:30PM
AMD payment of $750k coming 11/15/05 and final one due 02/15/06 for $500k. Both payments are allready recognized as revenue for fiscal `05 though.

We are paying the co-inventor of Ignite $207,600.00(quarterly payments of $51,900.00 w/ 3 more to go as of 05/31/05)after licensing Ignite to AMD. At least someone is getting royalties!

Page 53 of 64 gave my heart a jump as it talks of the AMD deal as ``two separate agreements`` and continues with,note the plural,``The agreements also provide for the future payment of royalties to the Company based on sales of product using the technology``. But in another area they talk of royalties only with Ignite, so just wrongly worded and is what we thought it was.

Nov. 2004, Patent app. filed titled Remote Power Charging of Elecronic Devices w/ assign. to PTSC. No word on the inventor or what $/% he may be due later.

In association w/ Intel settlement we have paid co-inventors $960k in the 1st qtr. of fiscal `06.

Beatie Osborne claiming $240k in litigation costs. PTSC had given $210k in advance for litigation costs. Held in Trust account? PTSC may sue for malpractice. (Can we get Judge Fogel to preside? lol)

PTSC disputed B/O claims for $346k due in connection w/ AMD deal. PTSC undisputed $208k ?

good night,joe

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