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Message: Time Line - What happened between 11/08 and 7/09

Time Line - What happened between 11/08 and 7/09

posted on Oct 12, 2009 11:16AM

2008-11-10 Patriot Scientific's Board of Directors Confirms Rick Goerner as President/CEO Patriot Scientific (OTCBB: PTSC) today announced that the Board of Directors has confirmed Rick Goerner’s position as its President and CEO. Mr. Goerner was appointed interim President and CEO on February 29, 2008. “Patriot is happy to report that it has given Rick Goerner the permanent title of Chief Executive officer. After serving as Patriot’s interim for the past nine months, the Board is pleased to have Rick on board as permanent CEO,” said Carl Johnson, Chairman of Patriot Scientific’s Executive Committee. “We look forward to Rick’s talent, experience and drive bringing forth an expansion of new growth and success for Patriot Scientific.”

2008-11-20 Letter to the Shareholders of Patriot Scientific Corporation from President/CEO Rick Goerner on Business Update

…Firstly, as announced, this past week the Patriot Board of Directors confirmed my position as Patriot’s fulltime President/CEO, a role I am pleased to accept. While we’ve had some small success in my first nine months, I am committed to making Patriot Scientific a long term business success and a premier Company in the technology sector.

….We released historic and pro-forma financials for the Crossflo Systems acquisition on Friday, November 14. Crossflo represents Patriot Scientific’s first full M&A transaction resulting from the company’s new strategic direction. While Crossflo’s prior revenues are minimal at this juncture, Crossflo’s unique data sharing software technology addresses a complex, widespread, and rapidly expanding need in the market to securely share data between multiple users. That said, Crossflo has invoiced initial revenues on several key projects within the government agency, state law enforcement, healthcare (in conjunction with Hewlett-Packard (HP)) and other public sector applications, such as a large statewide court system. It is the potential of these and follow-on opportunities, the strength of the HP partnership, and the initial traction Crossflo has achieved at an early stage of public sector and healthcare data sharing, which provided the basis for our valuation of the Company. Each of these markets represents multi-billion dollar revenue opportunities for database integration software. We expect Crossflo to have a profitable 2009 plan with more specifics released before year-end.

Patriot Scientific Corporation Retracts Revenue Guidance for PDSG Subsidiary CARLSBAD, Calif., July 16 /PRNewswire-FirstCall/ -- Patriot Scientific Corporation (OTC Bulletin Board: PTSC - News) announced today that it expects 2009 calendar year revenues for its principal subsidiary, Patriot Data Solutions Group, Inc. ("PDSG"), will fall materially short of the $3 million to $6 million range previously forecasted.

2009-07-10 Patriot Scientific Corporation Announces Baroni Management Company Engaged for Strategic Assessment

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