PTSC has seen some very impressive volume recently, most of it coming after news the company released late last week. TYCO a $22 billion market cap NYSE company made a purchase from PTSC, which is big news for the company. The volume and money flow after that news release shows that investors are buying up the stock.
The current volume is higher than its been in many years. The last time PTSC saw this type of volume the stock rocketed higher, and that is what I think will happen here, except the rise will be less dramatic and more steady.
Key points to watch are $.14 and $.20. The stock had a tough time breaking $.14 yesterday and pulled back today. A firm break of $.14 will bring $.20 into focus. That price point offers some previous resistance and if money flow continues I think the stock could break that price as well.
An 8k out after hours shows the voting results from the last shareholder meeting. All three items were approved including one which mandates insiders buy company stock. Currently there is a low rate of insider holdings for PTSC. That could all change based on the voting that took place.
From the proxy:
"That Stockholders direct the Board to take all actions necessary to adopt guidelines to enforce the spirit and intent of the proposal requiring directors and senior executives to purchase company stock in non-company loaned monthly cash allotments, each month, without waiver, with a monthly base amount equal to at least 2% of their individual total annual compensation, for a period not to exceed sixty months, until such time as their individual expenditures equate to stock value in the company of at least 5 times their individual total annual compensation (including bonuses); with purchases to commence within 60 days after proposal passage."
I think this stock could see a nice, deliberate rally to $.20 and higher over the next month. I will have more on this stock over the coming days and weeks. For those interested in this stock, go over the filings, read the press releases, do research on it and I think you will like what you see, just as I do.
CARLSBAD, Calif., Feb. 9, 2012 /PRNewswire via COMTEX/ -- Patriot Scientific Corporation (OTCBB: PTSC - News) today announced that Tyco International Ltd. has purchased an MMP(TM) Portfolio license. Tyco is a leading provider of security products and services, fire protection and detection products and services, and industrial valves and controls to customers worldwide. About Patriot Scientific Corporation
Headquartered in Carlsbad, California, Patriot Scientific Corporation (PTSC) is the co-owner of the Moore Microprocessor Patent Portfolio(TM) licensing partnership, and is the parent of the wholly owned subsidiary, PDSG. For more information on PTSC, visit www.ptsc.com.
About the MMP Portfolio(TM)
The MMP Portfolio includes seven 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.
Contact:Patriot Investor Relations firstname.lastname@example.org 760-547-2700
SOURCE Patriot Scientific Corporation
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