Company has completed its initial evaluation of Blockchain Technology in life sciences product development and plans to pursue opportunities in the area

CARLSBAD, CA / ACCESSWIRE / December 10, 2019 / Patriot Scientific Corporation (OTC PINK:PTSC) today is providing an update on its business plans.

Patriot Scientific Corporation is a public company with a long history in microprocessor design intellectual property generation that covered chips used in computers, cell phones, automobiles and entertainment systems, collectively known as the Moore Microprocessor Patent (MMP) Portfolio™, which the company licensed to over 100 companies through its joint-venture Phoenix Digital Solutions. While the last patent appeal was still ongoing for the MMP portfolio, which the Supreme Court of the United States has since denied the company's petition for a writ of certiorari, the company had begun planning for its future by exploring alternatives to expand its business initiatives into areas that build on its rich history in the high-tech area.

The board and management initially evaluated a number of potential areas for investment and have now received the results of a feasibility study that we believe support pursuing business interests with a focus of using distributed ledger, also known as blockchain technology, in life sciences product development. The areas of opportunity span the continuum of drug development from drug discovery to pharmaceutical manufacturing to clinical development. The company intends to explore the possibility of partnerships/investments relating to distributed ledger technology in these areas in order to grow shareholder value.

"We have evaluated a number of potential areas for future investment and have identified the emerging area of distributed ledger technology as an attractive area to pursue. Data security, integrity and auditability are core to the development of new drugs and we believe that the use of blockchain technology in this area has exciting potential," stated Carlton Johnson, Patriot's Chief Executive Officer. "In order to advance our interest in this area, we intend to pursue partnerships or business relationships with drug development, blockchain and other complementary technologies, such as artificial intelligence, to develop solutions for the drug development sector. We look forward to updating our stockholders on these efforts in the near future as progress is made," added Mr. Johnson.