Patriot Scientific Corporation Releases Third Fiscal Quarter Report; Company Addresses Significant Events

Patriot Scientific Corporation (OTC Bulletin Board:PTSC.ob - News) today reported the filing of its report on Form 10-Q for its third fiscal 2010 quarter ended February 28, 2010. For the three and nine month periods ended February 28, 2010, the Company's revenues were $0.2 and $0.3 million, respectively, compared to $1.4 million and $4.6 million, respectively, for the same periods in the prior fiscal year. The decrease in revenues is primarily attributable to the May 2009 deconsolidation of Holocom, Inc., and its exclusion from the consolidated operating results. Results from Patriot's investment in the MMP(TM) portfolio of microprocessor patents, a joint venture with Phoenix Digital Solutions, LLC (PDS) and The Technology Properties Limited Group (TPL), were $0.4 and $3.9 million in earnings, respectively, for the three and nine-month periods ended February 28, 2010, and a $0.9 loss and $5.7 million in earnings, respectively, for the same periods in the prior fiscal year....

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Patriot Scientific Corporation