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Message: Not to open a can of worm but....

Not to open a can of worm but....

posted on Apr 27, 2008 06:23PM

First of all, please don't shoot me for this. Hopefully not opening a can of worms or should I say re-open in this case but going back and re-reading the shareholder's letter from RG, something strikes me as being odd in RG's comments in the 'SH's Feedback and Concerns' section of the letter.

There is absolutely no mention of our shareholder rep in his inquiries as to issues and/or shareholder concerns. Why wouldn't RG ask Brian about these issues and state such in his letter. Is (was) Brian's role as SHR ignored? Maybe Brian was consulted and was a part of RG's info collection but it is a shame, to say the least, that there's no mention of it. At a stretch, there could be an inference of such a consultation....i.e. 'conversations with several shareholders'.

Not trying to stir the pot but found this a bit odd.

____________________________________...

Exerpt from shareholders letter from RG:

Shareholders’ feedback and concerns

During the past month I have collected feedback from shareholders, received input from our investor relations and public relations groups and have had direct conversations with several shareholders to better understand the issues and concerns facing the company through your eyes. The vast majority of these issues seem to fall into four primary areas:

1. Shareholder communications and visibility of Patriot’s activities
2. Requests for details regarding specific MMP™ portfolio licenses
3. The proposed Patent Reform legislation
4. How to increase the shareholder value of PTSC shares

Shareholder communications and visibility of Patriot’s activities

It is my intention, starting with these letters, to provide regular, concise and valuable information to our shareholders. The extent of the information will be, of course, subject to the disclosures that can be made by a public company under governing laws and corporate compliance oversight. I am working closely with our investor relations firm, Hawk Associates, to better understand their needs with respect to daily communications that come to them via letters and emails from shareholders. In the longer term, I will strive to create a quarterly mechanism to provide more direct access to management (possibly a quarterly conference call) before the next shareholders meeting in October of this year.

____________________________________...

Regards,
PxP

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