"Can it be said that new licensees are considered non-material events by SEC standards?"

Pohl applauded the licensing team for having produced six licensing agreements in as many months. He went on to note that this remarkable level of success has produced advice from attorneys and independent accountants that licenses are no longer extraordinary events in the conduct of the company's business. The result is the elimination of exceptions previously available regarding the obligation to honor restrictive confidentiality agreements. "This means that the company finds itself in the difficult position of wanting to share the exciting details of license revenues at the time the licenses are announced, yet we are legally prevented from doing so," Pohl stated. "As a result, investors expecting to learn the dollar amounts of revenues received by Patriot Scientific in connection with recent and future licenses will find that such information will be available only as included in regular quarterly financial statements filed by Patriot with the SEC."