A Summary Review of Known Events on the immediate horizon for PTSC

This is a repost of my 12/23/08 PTSC update in case people gone for the holidays missed it. I have decided to split the postings out by month because it is becoming lengthy. The information provided is generally based on: CEO Rick Goerner provided info from Shareholder Letters (including the latest, SH Letter #11, releases at 5:39 PM on 12/22/08), company press releases, and investor relations feedback. Green font means newly added details. If some information is in my opinion (IMO), I will reference it as such and put it in Brown font.

-----------------January 2009 and Beyond-------------------

· [Friday, January 9, 2009]: Release of Q2 10-Q Results It will be released After the Close (ATC).

· [Tuesday, January 13, 2009]: Conference Call Shareholder Q & A Per RG, “As this is not a traditional earnings call, we plan to conduct the call at 1:30 pm (Comment: ET, CT, PT?) on Tuesday, January 13, 2009. The two business day offset should give all interested shareholders time to contemplate our results and formulate questions for the call. Details for the conference call logistics will be released in early January and also included in the Company’s Q2 release on January 9, 2009.”

· [In the Future]: NASDAQ Listing: Per RG, “During my last trip to New York City I had the opportunity to meet with the NASDAQ representative for new listings and discussed the prospects for Patriot. Based on the current listing criteria NASDAQ has established, Patriot could pursue listing on NASDAQ’s Global Market if we met the share price criteria. All other capital and financial requirements can be met. Therefore, the decision to pursue a NASDAQ, or other exchange, listing, is not if, but when.” Comment (IMO): Every criterion is met except Stock Price. Excellent, only one “minor” obstacle left. See this link to find out NASDAQ listing requirements: http://www.nasdaq.com/about/nasdaq_l...

· [Sometime soon]: Comment (IMO): Update the Website to reflect/include the non-MMP source of revenue direction. Comment (IMO) I did go ahead and ask this question of Patriot IR on 12/3/08 and received a reply on 12/9/08. IR stated that new information to be added to the website reflecting Patriot’s additional direction is in the works. A specific timeframe was not provided, but my sense is that it is soon.

· [Shortly]: Dutton Full Research Report on PTSC – (IMO) As mentioned in Dutton Summary Section of their 10/14/08 PTSC update – they said it was to be issued “shortly”. They have issued Research Note Updates on 11/10/08 and 11/24/08. Also, as an FYI, PTSC paid $35000 for 4 Research reports commencing on 11/27/06 (noted in the fine print at the end of the first report). Later, I noticed in the fine print of the 07/22/08 Dutton report that PTSC paid $67,000 for 8 research reports commencing on 11/27/08. So, the answer is, by averaging, PTSC is paying about $33,500 per year for Dutton Coverage (and presumably the 2 year coverage ends tomorrow, 11/27/08. Was it continued?).

· [Sometime, maybe] (IMO): Big Cohen Research Report – Will they renew Cohen Research? I thought I had read a comment somewhere that RG planned to pay Cohen again but not for sure on that. Still, increased or sustained coverage is critical (but, maybe he has some *new* coverage in mind). We received the first full Cohen Research Report one back on 10/16/07 and the last Cohen Update on 7/18/08. No further update/clarification on this from RG in the 12/22/08 SH Letter. http://www.cohenresearch.com/

· [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 on 10/30/08. More news on the ‘584 patent came out week of Dec 1-5, please see other shareholder postings for info on that.

· [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.” Comment (IMO) Nothing new on this in 12/22/08 Shareholder Letter.

· [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. Comment (IMO) Nothing new on this in 12/22/08 Shareholder Letter.

· [Overdue, where is it?]: 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 13 weeks since- is that still defined as “shortly”? RG provided no new update on this in Shareholder Letter #10 or #11. However, Fatwollit provided this good link recently:

From Fatwollit, posted at 11:55 AM on 12/23/08

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Top 10 Best Bet State and Local Justice/Public Safety and Homeland Security Opportunities for 2009

Nothing specifically on the 2nd Fusion Center award but this Input article on Security Opportunities for 2009 provides interesting background. Input subscribers can find out what the Best Top Ten opportunities are, and, maybe, Crossflo is one of them:

http://news.yahoo.com/s/prweb/200812...

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StormKing