This statement:

"The stock buyback plan adopted by the Board of Directors calls for management to use not less than 10 percent of future licensing revenue distributions received by the Company to purchase shares of our stock on the open market in a manner consistent with applicable securities laws and regulations," said David H. Pohl, Chairman and CEO of Patriot Scientific"

coupled with this one:

"Since the resumption of the program in April the company has purchased over 2 million shares."

Could mean a couple of different things. For starters, PTSC received $11.7M in licensing revenue distribution from PDS for Q3. PTSC's share price has averaged around 35 cents since the 10q release, so 2M shares would have cost them about $700K. So to reach the threshold of NOT LESS THAN 10%, they need to spend another $470K to buy shares, which based on the 30 cent price since RG's letter, would buy another 1.5M shares. Considering there have been 3.8M shares traded since RG's letter, either PTSC has been the major buyer, which while I can understand them trying to keep the price low, I'd expect them to buy in a way that INCREASES the PPS, or they will continue to accumulate at the same pace it took them to accumulate the first 2M they bought since the 10q was release, ie, another couple of weeks.

Another way to look at it is that the $700K (or more since it's OVER 2M shares rebought) represents what they have spent since the program resumed in April. Anc consideringer the only two licenses signed since the 10q announcement are Research In Motion and Onkyo, and PTSC has to spend AT LEAST 10% of it's revenues to rebuy shares, it might mean that PTSC has received $7M from PDS for these 2 licenses, meaning PDS collected $14M plus for these two licenses PLUS expenses.