( BW)(CA-PATRIOT-SCIENTIFIC)(PTSC) Management Buys PTSC Shares On The Open Market
Business Editors
SAN DIEGO--(BUSINESS WIRE)--Feb. 7, 2002--Several members of the management team of Patriot Scientific Corp (OTC BB: PTSC) have begun buying PTSC shares on the open market within the guidelines of insider trading purchases. "PTSC, at these current market prices, represents a very attractive risk/reward ratio," said Don Bernier, Chairman and CEO of Patriot Scientific. I are very pleased with our progress over the last few months and am quite optimistic about the potential for PTSC to rebound from its current market valuations." Mr. Bernier continued, "Some of the members of our management team and I hope to continue to capitalize on the current pull back in our stock price and may be buying additional shares from time to time in the open market." As reflected in a recent filing with the Securities and Exchange commission, Mr. Bernier purchased 150,000 shares of PTSC, Lowell Giffhorn, CFO, purchased 52, 500 shares of PTSC and Mike Korodi, VP of Sales and Marketing, purchased 10,000 shares of PTSC.
About PTSC
Founded in 1987, PTSC is an Intellectual Property company that develops, markets and enables innovative technologies to address demand in fast growing markets such as; wireless devices, mobile devices, appliances, home gateways, set top boxes, entertainment, automotive and industrial controllers. PTSC's innovative IP approach allows for rapid product introduction with exceptional power, performance and cost characteristics that are crucial to next generation mobile and Internet devices - a $39 billion dollar a year market. For more information on PTSC, visit http://www.ptsc.com. IGNITE I, JUICEtechnology and DECAFtechnology are trademarks of PTSC.
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.
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CONTACT: Investors and Media Contact: The Investor Relations Group Shayne Payne / Dian Griesel 212/825-3210
KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE INTERNET SOFTWARE TELECOMMUNICATIONS SOURCE: Patriot Scientific Corp
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