Based on this 2006 press release
posted on
Aug 28, 2010 12:07AM
David Pohl clearly states the expertise of Dr. Falk " who contributes concerned business and shareholder input" Really PTSC....and you believe that Stan Caplan and Pete Lozano less qualifed?????
TWST: The company has five people at the present
time. Would you tell us about the backgrounds and expertise of
several of those five people, yourself included?
Mr. Pohl: I am an experienced business lawyer and have
been on the Board of Directors of Patriot Scientific since 2001. In addition
to myself, we are pleased to have other Board members who
contribute almost on a daily basis to the progress and growth of the
company. One of our Directors is an experienced CPA, Gloria Felcyn,
who serves as the Chairman of our Audit Committee. Another
Director is an attorney, Carlton Johnson, who is quite experienced in
legal matters. He helps us tremendously in that arena. We have, in the
past year, added James Turley to our Board. Jim is a recognized industry
authority on microprocessors and intellectual property, and so
he is providing very valuable input in that regard. And then we also
have Dr. Helmut Falk, who is an anesthesiologist, and who contributes
concerned business and shareholder input as the son of the
Founder of the company. That is our Board of Directors. In addition
to myself as the Chairman and CEO, our CFO is Tom Sweeney. Tom
is a CPA with a background in dealing with companies that are of an
entrepreneurial nature and publicly held companies that have experienced
rapid growth in the past. In addition to Tom and myself being
here in the office as executives on a daily basis, we have a very good
controller and two other assistants.
TWST: Do you expect to add some people as the company
becomes more successful?
Mr. Pohl: Absolutely, we look forward to that. At the same
time, we favor operating on a lean and mean basis, and that is the way
that we are able to function very effectively. My objective has always
been to minimize investments of the company in bricks and mortar
and to focus more on the revenue, particularly recurring revenue.
TWST: What occupies your own attention most on a
day-by-day basis?
Mr. Pohl: Certainly, attention to closely following the activities
of the licensing strategy that we are pursuing in addition to a
myriad of managerial activities associated with being the CEO of a
small team running a public company with a large number of shareholders.
Being a publicly held company, one of the things that I find
very interesting these days are the challenges that go with operating
a company in the era of Internet message boards. When you have a
small company, a small staff such as ours, and a very large widespread
shareholder group (as I indicated earlier, it’s probably around
16,000 in number), there are lots of ongoing promotional and investor
relations duties that fall on the CEO’s desk in a situation of
this sort, in addition to the daily tasks related to running a business.
TWST: What would be the two or three best reasons for
a long-term investor to take a very good look at Patriot Scientific?
Mr. Pohl:First of all, the value and strength of the patent
portfolio. If one considers simply the fact that we’ve put over 300
companies on notice so far, you can speculate that there are probably
several hundred more companies that might be added to the list in the
future. So the potential for licensing revenues is tremendous. One
could do some calculations on their own as far as picking a hypothetical
average revenue stream per individual license and then multiplying
that by the number of licenses they expect to see the
company have. In doing so, one can come up with some interesting
numbers of projected future revenue. As we accumulate that revenue,
investors can look at two things. Number one is that since we are a
company that has a stock that is currently trading at a price in the
range of near $0.80 a share and a market cap of almost $300 million,
we should have tremendous prospects for appreciation in the value of
the shares. In addition to that, because of the activities that I have described
in the revenue stream, the potential for dividends along with
the appreciation are great
TWST: Are you going to take any steps to improve your
capital structure?
Mr. Pohl: We have already taken some significant steps
in that, when this company was struggling to keep the doors open a
number of years ago, we had contracted for a line of credit — an
equity line of credit financing that later shifted into convertible
debentures. In March of this year, we paid off the last of the convertible
debentures, which had the result of the company basically
eliminating its long-term debt. So as far as strength is concerned, I
would certainly point to that. In addition to the strong revenue
stream that we have from licensing, we have a very small headcount
and low overhead. We are really at a point where the capital
structure is very favorable.
…..I feel that Patriot Scientific should be on
every investor’s radar screen.
TWST: Thank you.