Gluttonous Part 1

The filings show that Carl, Gloria and Cliff were paid $707,000 in cash for fiscal year ending 2010, while PTSC recorded Total Revenues for the entire year of only $567,934; Operating Losses of <$12,764,015>, and Losses before Income Taxes of <$10,608,178.>.

It's brazen, I think highly irresponsible, and screams to this reader of "entitlement" thinking and a Shareholder's be damned attitude !

Carl, Gloria and Cliff have presided over millions and millions and millions of dollars in losses, yet got paid hundreds and hundreds and hundreds of thousands of PTSC's dollars.

We had Operating losses in 2007 <$14,763,834>, 2008 <$5.6 Million>, 2009 <$7 Million>, 2010 <$12.7 Million> and 2011 <$6.4 Million>. We had corporate cowardice masquerding as "cost savings (less than $20K) and greater participation" such that a BOD resolution was passed so they could never again need to face company owners in person generally, and likely their very large So California shareholder base specifically, even just once a year; and held a "virtual" SHM in Jan 2011 (they could have easily simultaneously Streamed the physical meeting live, it's just as simple and costless as Goerner's Conference Calls were). Besides, an Annual Meeting once a year is the only time Shareholders get to gather and look the BOD in the eye, and hold them accountable for the performance of the company .... seems to me that is exactly what the BOD didn't want to happen. Unbelieveably, in what Shareholders protested as an earlier strategic effort to exclude as many participants as possible, the previous SHM was held all the way in Chicago ("cost savings" ?, "to better accomodate Shareholder access..." ?), in the dead of winter, and was the only SHM held outside of Southern California that I'm aware of since we became Patriot Scientific in 1992. To top it off, these three don't even have enough confidence in their own abilities or sympatico towards their investors plight to purchase one lousy share of PTSC stock during the past 3 years; NOT ONE SHARE OF COMPANY STOCK ... Do you know how much total cash compensation (just cash) these three received in those same 3 Fiscal years ? One million seven hundred seventy three thousand three hundred one dollars; $1,773,301. What was the average price for one share of PTSC stock over that same 3 fiscal year period ? 14 cents.

In my opinion, these folks are the poster children for selfish, entrenched, and contemptable corporate actors.

Most leaders who repeatedly failed to perform for their investors would have resigned or been fired, or at the very least cut their cash compensation levels down to more modest or performance tied amounts; they might have even taken the bulk of their compensation in Stock rather than cash as a much needed demonstration to the Markets (Investors and Infringers) of their confidence in our business strategy, their own Leadership abilities, and their expectency of success ... but oh no, not these "care(ing)" __________ (Fill in the blank), who "hurt for all of you" (as Gloria stated in her remarkable Jan 2010 "120 days" letter to Debbie). While Investors get 5 and 6 cents per share, these three folks continue to take from $8,000 up to $25,000 monthly cash pay, month after month, year after year; not including Cash Bonuses and Options. Gloria says they feel our pain as PTSC investors, yet, all the while they continue to keep their uninterrupted oversized personal paychecks flowing, even as the stock hits (4 cents) near it's alltime lows seen in 2003; they rack up millions of dollars in annual Operating losses, and even while they enact governance policies which directly translate into investment avoidance by potential Shareholders and result in antaganistic and even hostile shareholder relations.

cont.. http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_P/threadview?m=tm&bn=49226&tid=18614&mid=18614&tof=6&frt=2