Patriot Scientific Corp
Claim #33, class 6, Priority $0, Secured $0, Claimed $1,042,500
Patriot Scientific Corp
Claim #34, Class 6, Priority $0, Secured $0, Claimed $2,173,814
Upon the Effective Date, MIG will assume the role of commercializing the MMP Portfolio, for the benefit of Debtor TPL, Patriot and Mr. Moore himself. The revenue sharing formula set out in the January 23, 2013 Settlement Agreement will continue to serve to divide net MMP proceeds appropriately (among TPL, Patriot and Mr. Moore; Mr. Moore receives and will continue to receive the smallest share). MMP licensing revenues will continue to be channeled through PDS; the PDS chairman will continue to approve and sign off on every license, to assure accountability for licensing proceeds under the same system of safeguards put in place when it was necessary to monitor Mr. Leckrone.
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Under the MMP Plan, the PDS / TPL amended agreement from August 2012 is being set aside as a preference. The MMP Plan also sets aside as a preference the August 2012 TPL agreement with Alliacense, Patriot and PDS, that established Alliacense as the commercialization entity for the MMP Portfolio. With the 2012 Agreements set aside, and Alliacense no longer authorized to carry out MMP commercialization, all MMP licensing and commercialization rights revert to TPL under the 2005 foundational agreement between and among TPL, Patriot and Mr. Moore, still in effect and remaining in effect as an assumed contract of Debtor TPL, that gave TPL commercialization rights to the MMP Portfolio and established PDS to monitor and supervise TPL’s performance and to collect MMP revenues.
