It would be nice to know how Patriot would answer the following question today

Goerner letter to shareholders 5-12-08

What is the status of future dividends, a potential reverse split and listing on Nasdaq/NYSE/AMEX?

There have been numerous shareholder inquiries regarding the company’s plan to continue paying out dividends, announce a reverse stock split or seek listing under a more broadly traded exchange. While no specific timeline has been outlined as we move toward an operating company with products, customers, and markets, the company expects not to make further dividend distributions, choosing to instead, use the cash and capital assets (stock) of the company to pursue its M&A efforts. It is unusual for emerging technology companies to pay dividends as they generally retain earnings to grow their businesses by funding future product R&D and expanding marketing and sales efforts. It is our plan to move the company in that direction.

The board has also agreed that we should evaluate listing on a more broadly traded exchange, such as NASDAQ or NYSE/AMEX once we have developed a strategy, and acquired sufficient revenue-producing assets, to attract broader, institutional investors in PTSC stock. Our current stock price would not allow the company to consider re-listing on another exchange. The normal means to adjust the stock price to meet listing requirements would be a reverse split of the stock. The board is not anxious to move toward a reverse split until it believes that:

1. The company has a reliable, long term opportunity for growth of (less volatile) revenues, profits and shareholder value and,

2. A reverse split will not risk a reduction of the market capitalization of the company.

Again, no definitive timeline has been outlined for considering these actions, but I believe that the shareholders understand the company’s objectives, and perspectives, with respect to these possible actions.

http://50.28.91.52/~patriots/index.php?option=com_content&task=view&id=173&Itemid=29