Technology Authority Jim Turley Joins Board of Patriot Scientific; Former Advisory Board Member Becomes Director of Innovative Microprocessor Company
SAN DIEGO--(BUSINESS WIRE)--Feb. 21, 2006--
Patriot Scientific Corporation (OTC Bulletin Board: PTSC.OB), -- a company that specializes in developing and licensing high-performance ultra-low power microprocessor technology -- has named Jim Turley to the Board of Directors. Turley is an acknowledged authority on microprocessor chips, semiconductor intellectual property, computers, and silicon technology. Previously, Turley had served on the Company's Advisory Board.
"We are pleased to have Jim join us on Patriot Scientific's Board of Directors," Chairman and CEO David H. Pohl said. "This new position will enable Jim to participate directly at a policy-making level and provide the other Directors with the benefit of his considerable technological insight and expertise as we guide our Company through this dynamic period of transition and growth."
Turley, the editor of Silicon Insider, is the author of seven books, and has been editor of the prestigious industry journal Microprocessor Report, where he was three-time winner of the Computer Press Award. He is a frequent speaker at industry events, and is often quoted in The Wall Street Journal, New York Times, and the San Jose Mercury News. A former senior executive at a global semiconductor IP corporation, where he was responsible for three high-tech acquisitions, and a successful IPO, Turley currently serves on several technical advisory boards for high-tech companies in the U.S. and Europe, as well as serving on the Advisory Board for Embedded Systems Conference (ESC) and the Microprocessor Report.
Turley's areas of technology expertise include:
-- Microprocessor chips
-- Intellectual property
-- Silicon/semiconductor technology
-- Consumer electronics
-- Automotive electronics
-- Video games/consoles
-- Home/household electronics
"Jim's knowledge of the microprocessor industry will be a welcome addition to the various talents and experience already represented on our Board," Pohl continued. "We are looking forward to his participation as we continue our efforts to protect and commercialize our valuable intellectual property and patents." Patriot Scientific's jointly owned patent portfolio, the Moore Microprocessor Patent (TM) Portfolio, has been successfully licensed to Intel, HP and AMD. Disbursements received by Patriot as a result of these licensing agreements have generated nearly $24 million in revenue for Patriot.
Ten days ago the Company announced the retirement of all remaining debentures and the buying back of what could amount to up to approximately 20 percent of the Company's total outstanding stock warrants. Last week -- in a move virtually unprecedented for a microcap on Wall Street -- Patriot announced a dividend of $0.02 per share payable to shareholders of record as of February 24, 2006.
Based on these licenses and other key factors covered in recent SEC filings, Patriot Scientific currently has a market cap of approximately $127.68 million dollars as of close of trading on February 17, 2006 - up from approximately $25 million last month.
With these successful license negotiations as precedent, the Company -- through its marketing alliance with The TPL Group's Alliacense division -- is actively and confidently negotiating for licenses with other U.S. and foreign companies whose products include high speed microprocessors. More than 150 of these companies have been put on notice of likely patent infringement. These include practically every high-tech consumer electronics manufacturer and systems integrator in the global marketplace.
About Patriot Scientific
Patriot Scientific (OTC Bulletin Board: PTSC.OB) has emerged as an effective and dynamic intellectual property licensing Company, developing and marketing innovative and proprietary semiconductor technologies. The Company's jointly owned MMP patent portfolio of proprietary designs encompasses what is believed to be fundamental ultra-low-power array 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 http://www.hawkassociates.com/patriot/profile.htm.
About the Patent Portfolio
The MMP patent portfolio contains intellectual property that became jointly owned by publicly held Patriot Scientific Corporation and the privately held Technology Partners Ltd. (TPL). Moore Microprocessor Patent and MMP are trademarks of TPL. Both TPL and Patriot assert that their jointly owned patents have long been essential to the design of advanced microprocessors, digital signal processors, embedded processors and system-on-chip devices. Global sales of end products deploying chips using technologies protected by the jointly owned patents are estimated to be greater than $200 billion annually.
While major microprocessor manufacturers such as Intel (NasdaqNM: INTC) and Advanced Micro Devices (NYSE: AMD) were early portfolio licensees, the latest announcement of a license with HP (NYSE, Nasdaq: HPQ) indicates that Alliacense is now focusing its licensing efforts on system manufacturers.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the Company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the Company's Securities and Exchange Commission filings.
Source: Patriot Scientific Corporation
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