What is on the immediate horizon for PTSC?

This info is an update to my 11/18/08 post. New text is based on company "happenings" provided by CEO Rick Goerner (in green font) in the November 20, 2008 Shareholder Letter #10.

Upcoming:

Ø Done [Released 11/14/08] - Crossflo Historical and Pro Forma Financial Statements.

Ø Done [Released 11/20/08] Monthly Shareholder Letter #10] - Comment (IMO): SH letter out today, November 20th, 28 days after the last one.

Ø [Soon] End of Blackout Period for Insider Transactions–Per RG in 9/23/08 SH Letter: “Patriot Scientific management, officers and directors have been in a “blackout” period since the ending of Patriot Scientific’s fiscal year (May 31, 2008) and will remain unable to trade in Patriot Scientific’s stock at least through the release of the next filing of the Company’s 10-Q and the issuance of the historical audited financial statements for Crossflo”. Latest Shareholder Letter #10, released on November 20, 2008 provides no update on this.

Ø [November 2008]: New Investor Meetings in San Francisco No further info from RG on this in the 11/20/08 SH Letter.

Ø [Shortly]: Dutton Full Research Report on PTSC – As mentioned in Dutton summary Section of their 10/14/08 PTSC update – they said it was to be issued “shortly”. No reference to this from RG on this in the 11/20/08 SH Letter.

Ø [Early December]: European Road Show-New Investor Meetings – No new info about this in Nov. 20, 2008 Shareholder Letter #10.

Ø [Before Year End] Resolution of MOU for Iameter – Latest Shareholder Letter 10, released on Nov. 20th states: “We are making good progress with our previously announced plan to acquire the assets of Iameter which will expand Crossflo’s healthcare product offering to include Iameter’s “quality of care” data analysis software for healthcare applications. We expect to merge Iameter’s resources with Crossflo before calendar year-end”.

Ø [December 2008] HP-Crossflo Webcast – 200/7000 hospitals participating. In 11/20/08 Shareholder Letter, RG stated: “As noted in my last letter, Crossflo’s technology is highlighted with Hewlett-Packard’s Integrity Non-Stop server technology on HP’s healthcare solutions website. Crossflo is actively involved in several pilot healthcare projects that could grow into multi-million dollar initiatives connecting hospitals, physicians groups, and other medical service providers. With HP as a partner we are confident that we can increase Crossflo’s market presence and accelerate revenues in the healthcare sector. In the next month Crossflo will present to numerous hospitals via webcast to lay out the compelling Crossflo solution.

Ø [Within next month or so?] (IMO): Big Cohen Research Report - I thought I had read somewhere that RG planned to pay Cohen again but not for sure on that. Still, I think it is a good idea. We got the first full Cohen Research Report one back on 10/16/07 and the last Cohen Update on 7/18/08. No update/clarification on this from RG in the 11/20/08 SH Letter.

Ø [Within a few calendar quarters]: Significant USPTO action on one of patent re-exams. Comment: Resolved within “quarters” per someone’s ( one of the Leckrone’s) statement at Annual shareholder meeting. No additional insight provided in Shareholder Letter #10. However, as some Shareholders reported yesterday, USPTO documented on their website on 11/19/08 that a Litigation Search was performed on the ‘584 patent.

Ø [Some Date in the Future]: Resolution on Evaluation of a “Textual Analysis and Search Software Company”. From Nov. 20, 2008 Shareholder Letter - We have analyzed several potential text search/analytical tools, but not yet found an acceptable opportunity.

Ø [Some Date in the Future]: Further updates on IP expansion. RG stated in the 8/20/08 SH Letter #7, “We have held preliminary discussions with the developers of advanced networking IP technology for Digital Subscriber Line (DSL) applications." RG provided no new update on this in Shareholder Letter #10.

Ø [Some Date in the Future]: Comment (IMO): Update the Website to reflect/include the non-MMP source of revenue direction. How about a webpage listing the companies/subsidiaries we have stakes in (with links to their websites) or have joint ventures with, etc. The other company websites have PTSC mentioned (For ex: Crossflo). No mention of this from RG on this in the 11/20/08 SH Letter. But, perhaps should not expect to. A question/request I will probably put to IR.

Ø [Shortly, but Overdue]: New 2nd Fusion Center contract won by Crossflo: RG stated on 9/23/08: “…and has most recently won an additional state Fusion Center award which will be announced shortly. Comment (IMO): Crossflo should announce a 2nd Fusion Center contract shortly. Well, has this been announced, did I miss it? It has been nearly 8 weeks since- is that still defined as “shortly”? RG provided no new update on this in Shareholder Letter #10.

Ø [Update, but no resolution in 11/20/08 SH Letter]: ARS Update – From the 11/20/08 SH Letter #10, RG stated” As shown in our most recent quarterly report, which we filed on October 10th, the Auction Rate Securities (ARS) held by us, although illiquid, retain approximately 95% of their face value as determined by a third party valuation firm. The 5% write down to date represents a temporary valuation adjustment reflective of their illiquid status. The relatively high carrying value is attributable to the strength of the underlying principal as a result of US government agency guarantees. The ARS, which continue to earn and pay interest, serve as collateral for a line of credit secured by us earlier in the year whereby we are able to borrow against 50% of their value when necessary. Also, we recently filed a formal claim against the institution through whom we purchased the ARS, seeking redemption of the instruments at full value and payment for specified damages. We believe we have strong arguments and intend to aggressively pursue this matter.

Ø [January 2009]: Host Conference Calls & Guidance on Crossflo/Iameter Revenues: Starting in January 2009 for Q2 FY ’09 results. In 11/20/08 SH Letter, RG stated: “I have also committed to a conference call following the release of our Q2 10-Q results in mid-January, more details to follow.”

“We expect Crossflo to have a profitable 2009 plan with more specifics released before year-end.”

“We project Crossflo/Iameter profitability by fiscal year 2009 Q4 (May 2009).”

Ø [31 days and counting]: Another MMP License. In 11/20/08 SH Letter, RG stated, “Patriot has not announced a new MMP Portfolio licensee since my last update. As reported at the SHM, TPL/Alliacense are actively pursuing new MMP licensees and are aggressively opposing the current Patent Reform legislation. Visit the TPL website for how you can assist in the effort by writing your Congressman.

StormKing