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Patriot Scientific Corporation Provides Business Strategy Update

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Company has completed its initial evaluation of Blockchain Technology in life sciences product development and plans to pursue opportunities in the area

CARLSBAD, CA / ACCESSWIRE / December 10, 2019 / Patriot Scientific Corporation (OTC:PTSC) today is providing an update on its business plans.

Patriot Scientific Corporation is a public company with a long history in microprocessor design intellectual property generation that covered chips used in computers, cell phones, automobiles and entertainment systems, collectively known as the Moore Microprocessor Patent (MMP) Portfolio™, which the company licensed to over 100 companies through its joint-venture Phoenix Digital Solutions. While the last patent appeal was still ongoing for the MMP portfolio, which the Supreme Court of the United States has since denied the company's petition for a writ of certiorari, the company had begun planning for its future by exploring alternatives to expand its business initiatives into areas that build on its rich history in the high-tech area.

The board and management initially evaluated a number of potential areas for investment and have now received the results of a feasibility study that we believe support pursuing business interests with a focus of using distributed ledger, also known as blockchain technology, in life sciences product development. The areas of opportunity span the continuum of drug development from drug discovery to pharmaceutical manufacturing to clinical development. The company intends to explore the possibility of partnerships/investments relating to distributed ledger technology in these areas in order to grow shareholder value.

"We have evaluated a number of potential areas for future investment and have identified the emerging area of distributed ledger technology as an attractive area to pursue. Data security, integrity and auditability are core to the development of new drugs and we believe that the use of blockchain technology in this area has exciting potential," stated Carlton Johnson, Patriot's Chief Executive Officer. "In order to advance our interest in this area, we intend to pursue partnerships or business relationships with drug development, blockchain and other complementary technologies, such as artificial intelligence, to develop solutions for the drug development sector. We look forward to updating our stockholders on these efforts in the near future as progress is made," added Mr. Johnson.

About Patriot Scientific Corporation

Headquartered in Carlsbad, California, Patriot Scientific Corporation is the co-owner of the Moore Microprocessor Patent Portfolio. For more information on PTSC, visit www.ptsc.com.

About the MMP Portfolio™

The MMP Portfolio includes US patents as well as their European and Japanese counterparts, which cover techniques that enable higher performance and lower cost designs essential to consumer and commercial digital systems ranging from PCs, cell phones and portable music players to communications infrastructure, medical equipment and automobiles.

Forward Looking Statements

Statements in this news release which are not purely historical, including statements regarding Patriot Scientific Corporation's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that there can be no assurances that the results discussed by the forward-looking statements will be achieved, and Patriot's actual results could differ materially from those projected or implied in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of emerging technologies and markets, raising sufficient capital to fund evaluation and implementation of new business initiatives, variations in Patriot's cash flow, market acceptance risks, and technical development risks. Patriot's business could be affected by a number of other factors, including the risk factors listed from time to time in Patriot's SEC reports including, but not limited to, Patriot's 10-K for the year ended May 31, 2019 filed with the SEC. Patriot cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Patriot disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

Contact:
Patriot Scientific Corp
760-795-8517

SOURCE: Patriot Scientific Corporation

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