Re: Casio was the #2 for PTSC ...DABOSS-greengo
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Message: Casio was the #2 for PTSC
Thanks...10-Q shows details...INTEL was a $10 million settlement. This is similar to where we are now....
Patriot Scientific 10-Q Reveals Details of Major Patent Licensing Agreement with Intel; Intel License Validates Worth, Importance of Patriot's Microprocessor Patent Assets |
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| 11/3/2005 @ 6:52 PM print this article - email to a friend - join our eNewsletter | ||
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| During Patriot ScientificCorporation's (OTC Bulletin Board: PTSC.OB) Q1 of 2006 - a period ending August 31, 2005 - the Company entered into a $10 million dollar licensing agreement with Intel Corporation (NasdaqNM: INTC) to provide Intel with licensed access to Patriot's suite of patents. These patents represent the fundamental core technology behind virtually every microprocessor manufactured since 1995, according to statements made in Patriot's most recently-issued 10-Q. Earlier in 2005, Patriot Scientifichad previously licensed this same technology to AMD (NYSE:AMD). With the signing of these licenses, which resulted in aggregate revenues of approximately $13 million, Patriot does not need to rely upon equity and other types of financing to fund its operations - as it has in the past. These licensing agreements were largely responsible for Patriot's most profitable quarter ever - in Q1 2006, Patriot generated more than $10.01 million dollars in revenue, and closed the quarter with a net income of $4.44 million dollars. Total on-hand cash and cash equivalents at the end of the quarter amounted to $9.47 million dollars, with $5.97 million available for use in operations. |
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