Agoracom

"Why do YOU think it was settled under seemingly unfavorable conditions to us? If you did cover that I apologize for missing it."

I neither thought or stated that the settlements were unfavorable to us. I stated that I belong to the "don't know camp" - not knowing the settlements were unfavorable or favorable to us as a fact since nobody officially told us because of NDA. What I did was disputing with those who belong to the "knew for certain camp", who used speculation as a fact, or a certainty to declare that no more money will coming from J3 settlement after Q3 10Q. No matter the so called fact or certainty was from a resigned SR, or someone knowing some "sources close to PTSC". Below is the quote -

"At the outset, I will tell you that, regardless of what some folks on Agora apparently continue to talk about, there is no more settlement money or any other kind of funds coming from the J3 ? not in any way, shape, or form whatsoever, nor at any time in the future. I have confirmed this with my sources close to PTSC, and I have no reason to disbelieve them."

IF the above speculation is indeed not a speculation, but the real truth (this is a big IF), then the settlements was indeed unfavorable to us. Do the math and one will know easily. We used to thinking the Sony settlement was unfavorable to us. Compare the $ figure from Sony to the possible portion of $ from J3 from Q3 10Q, who can say J3 settlements were favorable to us if all $ were accounted for. Please take note that I say thos under that big IF. It is very obvious that those who take this speculation and declared that it is not a speculation, but a fact or certainty, tried to find some way to justify the unfavorable conditions by speculatinng that TPL gave in before the settlement, and it was us who wanted to avoid the jury trail, and it was us to who changed the strategy in the final stage of Texas case, and it was us who did not want JW's court to decide on the validity/infringement of those three patents, but instead, wanted use USPTO re-exam to validate those patents. Re-read the yahoo post and similar posts on Agora a few days ago, and re-read my posts regarding this topic, you will know who said what. I'm one of those people who are not that pessimistic as the yahoo poster about the settlement, about the performance of our lawyers, about the condition from which the settlement occured, about the strenth of MMP, about the momentum we had before the settlement, about the reward/risk ratio if we fight to the bitter end of jury trail, about getting a willful infringement judgement and treble demage reward, about getting an injuction order and so on. That's the reason I took the stance to dispute those opinions from "knew for certain camp".

Some poster may already made points about Dutton's report today. Sorry if I repeated something already discussed. Here is the sentence from the report - "Patriot Scientific cannot and has not released any specific financial information regarding the settlement and other license agreements." The cannot part is well known by us since we all knew the NDA, but the has not part is new. It looks to me a direct contradiction to yahoo poster's assertion that Patriot Scientific had released specific financial information regarding thesettlement and other license agreements, to him, the yahoo poster. "I have confirmed this with my sources close to PTSC, and I have no reason to disbelieve them." He said in the post. It would be noive for one to think that Dutton report writer did not know the controversy and debate on yahoo/Agora boards since last night. Here is another sentence from Dutton report: "Because of the lack of transparency of the actual timing of the licenses and the dollar amounts received, we are not updating this Valuation Worksheet." Dutton admit frankly and possible truthfully that they are like us, in the "don't know camp". Again, compare this sentence from yahoo post to Dutton's - "I will tell you that, regardless of what some folks on Agora apparently continue to talk about, there is no more settlement money or any other kind of funds coming from the J3 ?" At this point, I think I should stop arguing. Let the yahoo poster argue with Dutton report. We can just take a seat as spectators.

From Dutton report -
"Because of this situation, Patriot Scientific cannot and has not released any specific financial information regarding the settlement and other license agreements. The balance sheet and operating statement of PDS presented in the quarterly and annual filings required by the Securities and Exchange Commission presents information; however, the timing of licenses and specific per-license fees can only be conjectured.

Consequently, due to this limiting situation, we are not presenting an income model for fiscal year ending 5/31/2008. In our recent Update Research Report dated August 28, 2007, and February 7, 2008, we presented valuation xercises as an attempt to arrive at a dollar valuation of Patriot Scientific. Because of the lack of transparency of the actual timing of the licenses and the dollar amounts received, we are not updating this Valuation Worksheet."

Is this debate getting more interesting? The Dutton report today may just be a coincidence to the occurence of yahoo post, or it maybe a swift response by our new management to clear the muddied water. Which one is closer to the truth, I have no way to know. But seeing the two little hanging men on the stock chart standing on the $.26 resistance line (4/14/08 and 5/27/08), I got some relief. If someone tried make a sudden shock and owe raid last night to depress the SP today, it did not happen. Hopefully these two little hanging men can do some wonder for us longs.