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Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version Business Summary: Patriot Scientific Corporation, an intellectual-property licensing company, engages in the design, development, and sale of technologies for microprocessor chips in the United States. The company's technologies are used in computers, cameras, printers, automotive, and industrial devices.   Address   6183 Paseo Del Norte, Suite 180   Carlsbad , CA 92011-1153   Phone: 760-547-2700   Fax: 760-547-2705   Website: http://www.ptsc.com Auditor   KMJ Corbin & Company   Irvine Transfer Agent   Interwest Transfer Co. Inc. Employees:  31 ShareHolders:  748 Founded:  1987 Domicile:  Delaware      S & P Disclaimer   Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version Patriot Scientific Corporation, an intellectual-property licensing company, engages in the design, development, and sale of technologies for microprocessor chips in the United States. The company's technologies are used in computers, cameras, printers, automotive, and industrial devices. It also provides data sharing and secure data solutions for the critical data/information sharing needs of the healthcare industry, the Department of Homeland Security, and the Department of Justice, as well as of federal, state, and local public safety and law enforcement agencies. The company was founded in 1987 and is based in Carlsbad, California. History:  INCORPORATED in Delaware Mar. 24, 1992, to merge Patriot Financial Corp. (incorporated in Colorado June 10, 1987) on the basis of one Common share for every three shares of Patriot Financial Corp. May 12, 1992. September 1, 2008, acquired all of the outstanding shares of Crossflo Systems, Inc. The aggregate purchase price was $10,225,800, including $2,818,986 of cash, $824,600 of convertible notes and Common stock valued at $6,582,214 (26,988,455 shares).   Subsidiaries: Patriot Data Solutions Group, Inc. Plasma Scientific Corporation   Backlog Year Currency Amount 2009 US Dollars 0(thousand) 2008 US Dollars 0(thousand) 2007 US Dollars 0(thousand)   Capital Expenditures, thousand. US Dollars   Year   Amount   2009   58   2008   28   2007   6   Research and Development Expenditures, thousand. US Dollars   Year   Amount   2009   511   2008   0   2007   0      S & P Disclaimer   Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version Management Officers Position  Clifford L. Flowers Secretary, Chief Financial Officer, Chief Accounting Officer & Chief Executive Officer  Otto E. Sorenson General Counsel  Angela  Hartley Investor Relations Contact Directors  Helmut  Falk  Helmut  Falk, Jr.  Gloria H. Felcyn  Carlton M. Johnson, Jr.  Dharmesh  Mistry  Donald E. Schrock      S & P Disclaimer   Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version   Capitalization as of 05/31/2009:     Authorized Shares Outstanding Shares Preferred $0.00001 par 5,000,000 None Common $0.00001 par 600,000,000 410,354,054so2   LONG TERM DEBT: $3,041,577.   Common $0.00001 par   Stockholders:  07/31/2009, 748. Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT   OTC Bulletin Board( Primary): PTSC   Exchange Year High Low OTC Bulletin Board 2009 0.4200 0.0700 OTC Bulletin Board 2008 0.6500 0.1000 OTC Bulletin Board 2007 0.9400 0.3400 OTC Bulletin Board 2006 2.2500 0.0090 OTC Bulletin Board 2005 0.2900 0.0260 OTC Bulletin Board 2004 0.1950 0.0270 OTC Bulletin Board 2003 0.1050 0.0045 OTC Bulletin Board 2002 0.1600 0.0300 OTC Bulletin Board 2001 1.1200 0.1000 OTC Bulletin Board 2000 7.3750 0.4800   DIVIDENDS: Common $0.00001 par: 2006, $0.06; 2007, $0.02; 2008, None; 2009, None.       so2Excl. 27,713,564 in treas.    S & P Disclaimer   Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version Annual Report   Income Statement   2009 2008 2007 REVENUES Product Sales and Other 4,761,271 3,708,218 638,784 License and Service Revenue 593,451 - - Total Revenues 5,354,722 3,708,218 638,784 EXPENSES License and Service Revenue (287,911) - - Product Sales and Other (2,136,264) (1,510,450) (319,374) Selling, General and Administrative (8,561,938) (6,964,861) (7,558,712) Research, Development and Engineering Costs (510,848) - - Amortization of Purchased Intangibles (661,761) - - Impairment of Goodwill (235,897) - - Interest Expense (66,933) (389) (355) Equity in Earnings (Loss) of Affiliated Company 9,704,669 19,917,768 48,965,084 Impairment of Investment in Affiliated Company (866,667) - (126,746) Interest and Other Income 346,755 1,470,008 714,790 Loss on Sale of Assets (1,733) (4,139) (3,163) Gain on Sale of Subsidiary Interest - 150,000 - Settlement and License Expense - (836,400) (7,524,537) Impairment of Notes Receivable - - (339,551) Earnings before Taxes 2,076,194 15,929,756 34,446,220 TAXES AND OTHER EXPENSES Provision for Income Tax (964,129) (6,426,029) (10,755,033) Minority Interest (After Tax) (230,556) (115,406) - Net Income (Loss) 881,509 9,388,321 23,691,188 SUPPLEMENTARY INFO Gross Profit/loss 2,268,786 2,197,768 319,410 Operating Income (Loss) (7,039,897) (5,603,493) (14,763,839) Basic EPS - Continuing Operations Nil 0.02 0.06 Diluted EPS - Continuing Operations Nil 0.02 0.06   Balance Sheet   2009 2008 ASSETS Cash and Cash Equivalents 6,206,868 6,424,015 Marketable Securities 58,292 298,243 Work-in-process 27,279 - Accounts Receivables 168,402 538,500 Receivables from Affiliated Company 5,467 7,501 Notes Receivable 447,810 450,115 Inventories - 388,141 Deferred Tax Assets 285,472 1,390,832 Prepaid Expenses and Other Current Assets 306,457 79,840 Restricted: Cash and Cash Equivalents 52,163 51,122 Prepaid Income Taxes 506,526 222,311 Total Current Assets 8,064,736 9,850,620 NON CURRENT ASSETS Property and Equipment, net 85,475 68,504 Marketable Securities 10,598,389 12,527,675 Investments in Affiliated Company 4,540,280 2,913,614 Deferred Tax Assets 2,843,677 - Goodwill 1,739,249 - Other Intangible Asset, Net 5,803,639 63,299 Other Assets 51,507 8,190 Total Assets 33,726,952 25,431,902 LIABILITIES Accounts Payable 414,843 555,690 Accrued Expenses and Other 593,330 373,848 Deferred Revenue 26,311 - Total Current Liabilities 1,034,484 929,538 NON CURRENT LIABILITIES Long-term Debt Including Accrued Interest 3,041,577 - Deferred Tax Liabilities - 1,085,181 Minority Interest - 115,406 SHAREHOLDERS' EQUITY Common Stock - Par Value 4,380 4,109 Additional Paid in Capital 77,008,336 70,004,816 Treasury Stock - Common (13,850,659) (12,723,172) Accumulated Deficit (32,881,848) (33,763,356) Accumulated Other Comprehensive Loss (629,314) (220,617) Total Shareholders Equity 29,650,892 23,301,776 Total Liabilities & Shareholders Equity 33,726,952 25,431,902      S & P Disclaimer   Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version Interim Report      Data Not Available            S & P Disclaimer   Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version Pro Forma Report      Data Not Available            S & P Disclaimer   Patriot Scientific Corp. Symbol:  PTSC Click here for a printable version Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2010   1 100,000   2010   2 70,000   2010   3 180,000   2009   1 1,360,000   2009   2 1,880,000   2009   3 1,410,000   2009   4 710,000   2009   Full Year 5,350,000   2008   1 520,000   2008   2 950,000   2008   3 800,000   2008   4 1,440,000   2008   Full Year 3,710,000   2007   1 30,000   2007   2 20,000   2007   3 20,000   2007   4 570,000   2007   Full Year 640,000   2006   1 10,010,000   2006   2 10,000   2006   3 60,280,000   2006   4 (59,990,000)   2006   Full Year 10,310,000   2005   1 Nil   2005   2 20,000   2005   3 2,950,000   2005   4 Nil   2005   Full Year 2,980,000     Quarterly Net Income, US$ Year Quarter Revenue   2010   1 (1,990,000)   2010   2 (2,750,000)   2010   3 (940,000)   2009   1 3,210,000   2009   2 (930,000)   2009   3 (1,490,000)   2009   4 90,000   2009   Full Year 880,000   2008   1 (1,960,000)   2008   2 2,420,000   2008   3 6,290,000   2008   4 2,640,000   2008   Full Year 9,390,000   2007   1 5,990,000   2007   2 (1,880,000)   2007   3 9,620,000   2007   4 9,970,000   2007   Full Year 23,690,000   2006   1 4,440,000   2006   2 (1,270,000)   2006   3 24,890,000   2006   Full Year 28,672,700   2005   1 (1,110,000)   2005   2 (1,070,000)   2005   3 660,000   2005   4 (1,170,000)   2005   Full Year (2,693,600)     Quarterly EPS, US$ Year Quarter Revenue   2010   1 Nil   2010   2 (.01)   2010   3 Nil   2009   1 .01   2009   2 Nil   2009   3 Nil   2009   4 Nil   2009   Full Year Nil   2008   1 (.01)   2008   2 .01   2008   3 .02   2008   4 .01   2008   Full Year .02   2007   1 .01   2007   2 Nil   2007   3 .02   2007   4 .02   2007   Full Year .06   2006   1 .01   2006   2 Nil   2006   3 .06   2006   4 Nil   2006   Full Year .07   2005   1 (.01)   2005   2 (.01)   2005   3 Nil   2005   4 Nil   2005   Full Year (.01)      S & P Disclaimer