http://www.us.design-reuse.com/news/news12556.html

Patriot Scientific Corporation Announces Debenture Conversion, Warrant Buyback Agreements

SAN DIEGO--Feb. 10, 2006--Patriot Scientific Corporation (OTC Bulletin Board: PTSC.OB - News) -- a high-tech intellectual properties company that specializes in developing and licensing high-performance ultra-low power microprocessor technology -- today announced that it has entered into agreements to reorganize its relationship with Lincoln Ventures, LLC ("Lincoln") and Swartz Private Equity, LLC ("Swartz") to benefit the Company and its retail shareholders. The agreements, which are subject to Board approval, provide for the following:

• Lincoln and Swartz will immediately convert their remaining convertible debentures of the Company, following which the Company will not have any debt on its balance sheet.
• To facilitate the conversion of the debentures, agreements between the Company and Lincoln and Swartz which prohibit each of <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Lincoln and Swartz from owning more than 4.99% of the Company's Common Stock will be amended to allow them to own up to 9.99% of the Common Stock. With their holdings exceeding 5% they will need to make appropriate SEC filings upon future dispositions of the Company's stock.....

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Schedule 13Gs is what this may refer to, but I still believe it to be a mis-statement regarding disposition, or at the very least an easily misinterpretted statement

regards