Re: The letter
in response to
by
Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: Re: The letter
Regarding the Patent Reform Act of 2007
To All Friends of Patriot Scientific Corporation--
Welcome back to the second of these irregular letters to you, our shareholders and partners. The past month has been a lively one for us with many significant events affecting Patriot’s cash position, our progress on short-term goals, and headway on our long-term goals.
- For starters, our Markman ruling went very well. The June decision in the Eastern District of Texas was a complicated one and we're quite encouraged by the results.
- So what’s a "Markman hearing?" This is a formal process that takes place before the actual trial in many patent cases. The purpose is to help speed the trial along by sorting out in advance some of the details over terminology. If you’ve ever read a patent you know that the language can be confusing and hard to follow. You don't want to waste time during the trial haggling over grammar, punctuation, and technical terminology so instead you work out those issues in advance. Both sides explain their interpretation of the patent language, and the judge decides which interpretation he believes is more accurate. That’s the interpretation that will be used in the actual trial.
- I'm sure many of you saw our July 20 press release announcing that we've spun off DataSecurus. DataSecurus used to be called Multi-Domain Computers and was part of Holocom Networks, which we acquired back in 2006. I'm quite pleased with the deal and I wish the company’s new management every success. Patriot will retain some equity in the business and John Burns (the president of Holocom) and I will serve on the company's board of directors. As DataSecurus grows and prospers we'll be in a position to share in the rewards.
- You've probably also seen our July 24 press release announcing that we're retiring all the outstanding warrants held by Lincoln Ventures. This eliminates the last of the warrants Swartz and Lincoln have held since becoming long-term supporters and shareholders of Patriot Scientific. I'm grateful to them for the support they gave the company when times were bleak. Now that we're through that period, I felt it was time to retire any remaining obligations and put the final polish on our balance sheet.
- In September I'll be speaking at the Arch Investment Conference in New York City. This will be a great opportunity to tell the Patriot Scientific story to institutional investors, analysts, and financial press. The conference will be webcast live and archived if you're interested in the presentations but can't attend in person.
- Our licensing business took another step forward as Bull, the big French technology corporation, became the 20th licensee of our patent technology and the 18th in as many months. As always, we have every expectation of more licensees to come.
- The nature of our licensing business requires a certain amount of privacy. I know that's frustrating for people who try to "read the tea leaves" and discern what we and our partners at TPL are doing on any given day. Certainly you all understand the need to conduct negotiations with potential licensees in confidence. Neither we nor they want to jeopardize a deal by being indiscreet. I'm sure that must be exasperating for those who feel they need a detailed play-by-play of our business negotiations, but that's not going to happen. Trust that we're working with our shareholders' best interests at heart.
- We're close to appointing a new member to our board of directors. I’m a big fan of this candidate and as soon as we've crossed all the t's we'll be happy to announce this valuable new addition to our team.
- Here's to another good month!
—Jim Turley
President/CEO
Patriot Scientific Corporation
To All Friends of Patriot Scientific Corporation--
Welcome back to the second of these irregular letters to you, our shareholders and partners. The past month has been a lively one for us with many significant events affecting Patriot’s cash position, our progress on short-term goals, and headway on our long-term goals.
- For starters, our Markman ruling went very well. The June decision in the Eastern District of Texas was a complicated one and we're quite encouraged by the results.
- So what’s a "Markman hearing?" This is a formal process that takes place before the actual trial in many patent cases. The purpose is to help speed the trial along by sorting out in advance some of the details over terminology. If you’ve ever read a patent you know that the language can be confusing and hard to follow. You don't want to waste time during the trial haggling over grammar, punctuation, and technical terminology so instead you work out those issues in advance. Both sides explain their interpretation of the patent language, and the judge decides which interpretation he believes is more accurate. That’s the interpretation that will be used in the actual trial.
- I'm sure many of you saw our July 20 press release announcing that we've spun off DataSecurus. DataSecurus used to be called Multi-Domain Computers and was part of Holocom Networks, which we acquired back in 2006. I'm quite pleased with the deal and I wish the company’s new management every success. Patriot will retain some equity in the business and John Burns (the president of Holocom) and I will serve on the company's board of directors. As DataSecurus grows and prospers we'll be in a position to share in the rewards.
- You've probably also seen our July 24 press release announcing that we're retiring all the outstanding warrants held by Lincoln Ventures. This eliminates the last of the warrants Swartz and Lincoln have held since becoming long-term supporters and shareholders of Patriot Scientific. I'm grateful to them for the support they gave the company when times were bleak. Now that we're through that period, I felt it was time to retire any remaining obligations and put the final polish on our balance sheet.
- In September I'll be speaking at the Arch Investment Conference in New York City. This will be a great opportunity to tell the Patriot Scientific story to institutional investors, analysts, and financial press. The conference will be webcast live and archived if you're interested in the presentations but can't attend in person.
- Our licensing business took another step forward as Bull, the big French technology corporation, became the 20th licensee of our patent technology and the 18th in as many months. As always, we have every expectation of more licensees to come.
- The nature of our licensing business requires a certain amount of privacy. I know that's frustrating for people who try to "read the tea leaves" and discern what we and our partners at TPL are doing on any given day. Certainly you all understand the need to conduct negotiations with potential licensees in confidence. Neither we nor they want to jeopardize a deal by being indiscreet. I'm sure that must be exasperating for those who feel they need a detailed play-by-play of our business negotiations, but that's not going to happen. Trust that we're working with our shareholders' best interests at heart.
- We're close to appointing a new member to our board of directors. I’m a big fan of this candidate and as soon as we've crossed all the t's we'll be happy to announce this valuable new addition to our team.
- Here's to another good month!
—Jim Turley
President/CEO
Patriot Scientific Corporation
Loading...
Loading...
New Message
Please
login
to post a reply