Shareholders' Letter, 9/5/2007 touches on future plan
posted on
Oct 27, 2007 04:37PM
Shareholders' Letter, 9/5/2007, written by -Jim Turley
President/CEO
Patriot Scientific Corporation
Excerpts: (my highlights)
We had terrific year-end results – the best in Patriot’s 20-year history. Our top-line “sales” for fiscal 2007 nearly doubled to $49 million. (Technically, our sales include only our microprocessor chips and the products from Holocom. Most of our income is actually recognized through our equity stake in the joint venture through which we license our patents.
Our cash position has also improved hugely over the previous fiscal year, growing by a factor of nearly 5x. We now have over $21 million in the bank, compared to just under $4 million this time last year. That puts us in a much stronger position to acquire other companies, technologies, rights, or equipment.
- I’m now writing a regular monthly column for Electronic Business that starts this month. This is a widely distributed electronic newsletter published by Reed Elsevier alongside big industry magazines like Electronic News and EDN (Electronic Design News). In addition to spreading the word about Patriot Scientific I’ll be writing about the intellectual property business, industry climate, business models, and related topics of the day.
