we all have mistrust of past leadership and their empty allusions of a gilded future, which we then accepted but in hindsight each and every one of us has our own type and level of regret regarding our gullibility. With cautiousness borne from this history, I have been following RG's statements and subsequent actions with interest. To date, RG has demonstrated (not just by my account) that he is focused on the future of our secure data sharing software products by bringing forth what he has publicly stated that the Company would do; PDSG will soon be born.

In and of itself, PDSG is but another dot to be connected, but it is the series of dots that I am focused upon. As shareholders we have many concerns that these new efforts will turn out to be a disappointing repeat of the past. Why should be believe otherwise? The MMP continues to perplex every common shareholder due to needed, but unavailable, details being hidden behind the curtain, the latest Moore/TPL accounts by Moore have taken on a circus-like atmosphere that has had my jaw agape at times, the general distrust of TPL, etc. Even with MMP license signings increasing in frequency, we temper our optimism with the knowledge that recent 10Qs have shown the license amounts to be far less than desired, and required, begging the questions as to how RG will be able to move forward amid what appears to be an inevitable cash-strapped position that will hobble the Company's intent to expand on the PDSG product line.

Yet, as I look at the dots - Crossflo, Iameter, Vigilys, Avot+Crossflo, Crossflo+GSA, Crossflo+HP, the fed pushing healthcare - they are taking on a less than random pattern; there is purposeful and deliberate aggregation in play here. But how is RG, who has been a straight shooter so far, in my opinion, going to rectify the apparent conflict between:

1. The financial picture of the company - gleaned from the public record - combined with the uncertainty that the only substantial revenue generator - the MMP - that the company has ever known may never deliver (or at least deliver in sufficient time to support us), and
2. The continued build-up of the (new) PDSG brand?

RG's continuing statements are clearly focused on this build-up, as shown in these excerpts from his last shareholder letter (underlined emphasis by me) (http://patriotscientific.com/index.p... ):

We also used the conference call to announce our plan to roll-up, into a single brand, all of the current software business activities (Crossflo, Iameter and Vigilys), as well as any future related acquisitions, into the newly created Patriot Data Solutions Group, or PDSG, brand.

and

While we are sensitive to our cash situation and have executed plans to cut spending in certain areas to preserve cash, the Company is, as evidenced by the recent acquisition of the Vigilys product, continuing the pursuit of synergistic software product offerings to complement the Crossflo CDX product for healthcare and the public safety and justice sectors of the market. We have also continued to re-purchase Patriot shares on the open market at attractive prices. We review our cash position, frequently, in the overall context of our general cash forecast scenarios. We will prioritize spending that is focused on driving new software revenues with our existing product offerings even as we consider new M&A efforts going forward.

I believe we all agree that the share price, or the substantial and sustained rise thereof, will be the deciding factor as to whether any of the actions of the Company have been successful. And I believe we all know that increasing revenues and profits from PDSG will be required for that to occur.

If the MMP comes back to life in a big way, we will be in an even better position to achieve success. I hope it happens, and based on the latest developments it may happen, but RG is behaving as though it will not be a substantial part of the future, a fact that he has stated publicly. A necessarily cautious stance, to say the least.

So, what happens next? For myself, I would hope another complimentary acquisition for PDSG is in order by this year's end. In that same time I am optimistic that a slow, steady congealing of the PDSG brand will bring about the increase in revenue and subsequent profit we all desire. I base this on the slow, but steady, achievement of the goals RG has set out for the Company and a paralleling of the two. TPL/MMP uncertainties and dwindling operating cash to date aside, RG has done what he said he would do, and I expect he will continue to invest intelligently to the best of his ability and to the good of the Company. I remember a month or so ago one post that suggested that there may be a point reached when a large established company operating in the same markets as Crossflo might seek to acquire it. I see this as a very viable possibility, especially now that all of the associated parts are being re-branded as PDSG. This consolidation of the parts should make PDSG an attractive package as it grows and gains market share, and I would expect RG to realize this is a possibility, too. What, then, would another company pay per share to acquire what we are promoting as a company rooted in the very origins of NIEM, GJXDM and IEPD?

Do I desire more information, more transparency, so that I may better manage my investment in this Company? Do I want to know more regarding how the Company is going to fund the further M&A activity of which it continues to speak, especially if it means a further dilution of my investment in the public float? Yes, I do, but I also understand the complexities behind why every detail is not hanging on the public clothes line to dry. For now, I am trusting RG to perform in matters of this Company that cannot be made public as he has in matters that have been publicly documented. I am trusting him to take seriously his fiduciary duties and responsibilities. I watch, I collect information, and I analyze to the best of my ability. And, every few weeks, I reassess my position. Much of my DD is initiated from the many fine posters present on this forum. Thank you, all, for your invaluable contributions.

My optimism is tempered by my deep concerns, and it is based solely on my observations and my interpretation of them. They need not be shared by anyone else. I read the tea leaves like everyone here with regard to what might be on the horizon, attempting to sort fact from fiction. On this, I am certainly not alone.

Good luck to all and enjoy your day.

Cheers,

DG