from the november letter
posted on
Jan 29, 2008 08:05AM
Speaking of potential, I've said many times that Patriot is actively seeking to develop a second revenue stream. I want that business to be predictable, product-based, and profitable. Well, we're making good progress on that front. Throughout the summer months I've been meeting with several high-tech companies and, with our CFO and members of the board of directors, we've evaluated more than 30 different companies in different industries from small 3-person startups to established firms with over 100 employees. A few of the meetings were brief; others progressed quite well and we've started a second phase of deeper discussions with some of the better candidates. We're being very thorough in our evaluation, involving each of our board members in turn and tapping outside advisors when that's appropriate. Overall I'm very excited about the prospects for expanding Patriot and broadening our opportunities. I'll be sure to share progress reports as we move along.
