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Patriot Scientific Corporation Confirms Seiko Epson Agreement to Purchase MMP License
MMP Licensing Program for Innovative Ubiquitous Patents Continues to Attract World's Leading Intellectual Property Companies
Carlsbad, CA -- June 27, 2006 - Patriot Scientific Corporation (OTC Bulletin Board: PTSC) confirmed today that Seiko Epson Corporation has agreed to purchase, pending approval by its Board of Directors, a license to the Moore Microprocessor Patent™ (MMP™) Portfolio. Seiko Epson joins a stellar group of MMP portfolio system licensees that includes HP, Fujitsu, Casio, Sony and Nikon. Terms of the Seiko Epson agreement to purchase a license were not disclosed.
In addition to its industry-leading printer and LCD businesses, Seiko Epson is renowned for quality precision instruments including clocks for diverse applications ranging from watches to computers and wireless communications devices.
Patriot Scientific and The TPL Group are co-owners of the MMP Portfolio, which Alliacense™, a TPL Group enterprise, exclusively manages. The MMP Portfolio patents, filed in the 1980s, cover techniques that have become essential to consumer and commercial digital systems ranging from DVD players, cell phones and portable music players, to communications infrastructure, medical equipment, and automobiles.
"Seiko Epson is the third global leader to purchase an MMP license this month," said David Pohl, Patriot Scientific chairman and CEO. "This not only confirms that our MMP licensing program is strong and gaining momentum, but it also adds to the continuing evidence of the strength of our jointly owned patent portfolio." He revealed that latest reports from the licensing team indicate that now some 300 companies have been put on notice of likely infringement of one or more patents included in the MMP portfolio.
"As MMP Portfolio licensing rates continue to ramp over time, we are focusing our energies on leaders capable of making quick strategic business decisions," said Mac Leckrone, Alliacense president. He noted that competition is intensifying among electronics system manufacturers worldwide to become first movers in their respective business sectors to purchase rights to the MMP Portfolio.
"In the past year, Patriot Scientific has successfully completed its transition to become a profitable company whose primary revenues are currently based upon licenses of our valuable intellectual property," said Pohl. "In this remarkable period we not only retired our last remaining convertible debentures to eliminate long term debt, but we also rocked the world of microcap companies during this past fiscal quarter by the virtually unprecedented action of paying a cash dividend to shareholders-not just once, but twice within a period of six weeks."
Pohl applauded the licensing team for having produced six licensing agreements in as many months. He went on to note that this remarkable level of success has produced advice from attorneys and independent accountants that licenses are no longer extraordinary events in the conduct of the company's business. The result is the elimination of exceptions previously available regarding the obligation to honor restrictive confidentiality agreements. "This means that the company finds itself in the difficult position of wanting to share the exciting details of license revenues at the time the licenses are announced, yet we are legally prevented from doing so," Pohl stated. "As a result, investors expecting to learn the dollar amounts of revenues received by Patriot Scientific in connection with recent and future licenses will find that such information will be available only as included in regular quarterly financial statements filed by Patriot with the SEC."
"Based upon our positive business developments in calendar 2006, the Patriot Scientific Board of Directors is considering additional strategic moves intended to enhance the strength and profitability of the company for the benefit of our shareholders," Pohl stated. "Among various alternatives, for example, are opportunities that may arise to engage in joint ventures or to acquire other companies or technologies compatible with our business focus-all depending, of course, upon future revenue and the Board's determination of prudent, feasible action in light of available capital and market conditions at the time."
"We are excited about the impressive progress the Alliacense team continues to make with the MMP portfolio licensing program, and we have tremendous confidence in the work they are doing," Pohl concluded. "The revenue associated with the license agreements they have produced in the program thus far encourages our Board and management team to continue to evaluate resources and further develop our dynamic business strategy to move the company forward with a look to considering related business opportunities in domestic and international markets and diversifying our revenue stream."
About Patriot Scientific
Patriot Scientific (PTSC.OB) has emerged as an effective and dynamic intellectual property licensing Company, developing and marketing innovative and proprietary semiconductor technologies. The company's portfolio of proprietary designs encompasses fundamental microprocessor technology, as well as pending patents designed to protect Patriot's proprietary technology.
Detailed information about Patriot Scientific can be found on the website www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at www.hawkassociates.com and www.americanmicrocaps.com. An investment profile on Patriot Scientific may be found at www.hawkassociates.com/patriot/profile.htm.
About the Patent Portfolio
The patent portfolio, marketed as the Moore Microprocessor Patent(TM) Portfolio, contains intellectual property that is jointly owned by publicly held Patriot Scientific Corporation and the privately held TPL Group. The portfolio encompasses seven U.S. patents as well as their European and Japanese counterparts. Both TPL and Patriot assert that their jointly owned patents protect techniques used in designing microprocessors, microcontrollers, Digital Signal Processor (DSPs), embedded processors and System-on-Chip (SoC) implementations. The MMP Portfolio is exclusively managed by Alliacense, a TPL Group enterprise.
Carlsbad, CA -- June 27, 2006 - Patriot Scientific Corporation (OTC Bulletin Board: PTSC) confirmed today that Seiko Epson Corporation has agreed to purchase, pending approval by its Board of Directors, a license to the Moore Microprocessor Patent™ (MMP™) Portfolio. Seiko Epson joins a stellar group of MMP portfolio system licensees that includes HP, Fujitsu, Casio, Sony and Nikon. Terms of the Seiko Epson agreement to purchase a license were not disclosed.
In addition to its industry-leading printer and LCD businesses, Seiko Epson is renowned for quality precision instruments including clocks for diverse applications ranging from watches to computers and wireless communications devices.
Patriot Scientific and The TPL Group are co-owners of the MMP Portfolio, which Alliacense™, a TPL Group enterprise, exclusively manages. The MMP Portfolio patents, filed in the 1980s, cover techniques that have become essential to consumer and commercial digital systems ranging from DVD players, cell phones and portable music players, to communications infrastructure, medical equipment, and automobiles.
"Seiko Epson is the third global leader to purchase an MMP license this month," said David Pohl, Patriot Scientific chairman and CEO. "This not only confirms that our MMP licensing program is strong and gaining momentum, but it also adds to the continuing evidence of the strength of our jointly owned patent portfolio." He revealed that latest reports from the licensing team indicate that now some 300 companies have been put on notice of likely infringement of one or more patents included in the MMP portfolio.
"As MMP Portfolio licensing rates continue to ramp over time, we are focusing our energies on leaders capable of making quick strategic business decisions," said Mac Leckrone, Alliacense president. He noted that competition is intensifying among electronics system manufacturers worldwide to become first movers in their respective business sectors to purchase rights to the MMP Portfolio.
"In the past year, Patriot Scientific has successfully completed its transition to become a profitable company whose primary revenues are currently based upon licenses of our valuable intellectual property," said Pohl. "In this remarkable period we not only retired our last remaining convertible debentures to eliminate long term debt, but we also rocked the world of microcap companies during this past fiscal quarter by the virtually unprecedented action of paying a cash dividend to shareholders-not just once, but twice within a period of six weeks."
Pohl applauded the licensing team for having produced six licensing agreements in as many months. He went on to note that this remarkable level of success has produced advice from attorneys and independent accountants that licenses are no longer extraordinary events in the conduct of the company's business. The result is the elimination of exceptions previously available regarding the obligation to honor restrictive confidentiality agreements. "This means that the company finds itself in the difficult position of wanting to share the exciting details of license revenues at the time the licenses are announced, yet we are legally prevented from doing so," Pohl stated. "As a result, investors expecting to learn the dollar amounts of revenues received by Patriot Scientific in connection with recent and future licenses will find that such information will be available only as included in regular quarterly financial statements filed by Patriot with the SEC."
"Based upon our positive business developments in calendar 2006, the Patriot Scientific Board of Directors is considering additional strategic moves intended to enhance the strength and profitability of the company for the benefit of our shareholders," Pohl stated. "Among various alternatives, for example, are opportunities that may arise to engage in joint ventures or to acquire other companies or technologies compatible with our business focus-all depending, of course, upon future revenue and the Board's determination of prudent, feasible action in light of available capital and market conditions at the time."
"We are excited about the impressive progress the Alliacense team continues to make with the MMP portfolio licensing program, and we have tremendous confidence in the work they are doing," Pohl concluded. "The revenue associated with the license agreements they have produced in the program thus far encourages our Board and management team to continue to evaluate resources and further develop our dynamic business strategy to move the company forward with a look to considering related business opportunities in domestic and international markets and diversifying our revenue stream."
About Patriot Scientific
Patriot Scientific (PTSC.OB) has emerged as an effective and dynamic intellectual property licensing Company, developing and marketing innovative and proprietary semiconductor technologies. The company's portfolio of proprietary designs encompasses fundamental microprocessor technology, as well as pending patents designed to protect Patriot's proprietary technology.
Detailed information about Patriot Scientific can be found on the website www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at www.hawkassociates.com and www.americanmicrocaps.com. An investment profile on Patriot Scientific may be found at www.hawkassociates.com/patriot/profile.htm.
About the Patent Portfolio
The patent portfolio, marketed as the Moore Microprocessor Patent(TM) Portfolio, contains intellectual property that is jointly owned by publicly held Patriot Scientific Corporation and the privately held TPL Group. The portfolio encompasses seven U.S. patents as well as their European and Japanese counterparts. Both TPL and Patriot assert that their jointly owned patents protect techniques used in designing microprocessors, microcontrollers, Digital Signal Processor (DSPs), embedded processors and System-on-Chip (SoC) implementations. The MMP Portfolio is exclusively managed by Alliacense, a TPL Group enterprise.
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