I will not, in the limited context of this letter, recount all the information contained in our April 9, 2008 earnings release, which fully reflects the financial results of all transactions announced prior to the end of January 2008. PDS-related licensing activities and results were generally improved from the year earlier quarter, with a strong cash position and PTSC’s public listing and share value, I am moving forward on our plan to use these resources to assess new opportunities for investment that should provide additional growth prospects for Patriot in the future.

I shall refrain from further comment lest I say something that I won't regret in the morning.

Be well