Patriot Scientific to Buy Back Outstanding Warrants
Tuesday July 24, 9:01 am ET

CARLSBAD, Calif., July 24 /PRNewswire-FirstCall/ -- Patriot Scientific (OTC Bulletin Board: PTSC - News) today announced an agreement to repurchase all outstanding warrants for its common stock held by Lincoln Ventures, LLC. Lincoln Ventures and its affiliate Swartz Private Equity have been involved in several rounds of Patriot Scientific's funding since 1997. The agreement will retire all remaining warrants held by Lincoln and Swartz.

Patriot Scientific CEO Jim Turley said, "We plan to repurchase and retire these warrants in installments between now and October. At the conclusion of this transaction, we will have removed this significant overhang in our stock and substantially strengthened our financial position."
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How significant is this overhang from these warrants? Anyone really know? Are most of the warrants already repurchased?