UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 11, 2012
Patriot Scientific Corporation
(Exact name of registrant as specified in its charter)
| Delaware | | 0-22182 | | 84-1070278 |
(State of other jurisdiction
of incorporation) | | (Commission File Number) | | (IRS Employer
Identification No.) |
| | | | | |
701 Palomar Airport Road, Suite 170 Carlsbad, CA 92011 |
| (Address of Principal Executive Offices) |
| | | | | |
| Registrant’s telephone number, including area code:(760) 547-2700 |
| |
| Not Applicable |
| (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
| Item 1.01 | Entry into a Material Definitive Agreement. |
On July 11, 2012, Patriot Scientific Corporation (the “Company”) entered into a Licensing Program Services Agreement (the “Program Agreement”) among Phoenix Digital Solutions, LLC (“PDS”), Alliacense Limited, LLC (“Alliacense”), Technology Properties Limited, LLC (“TPL”), and the Company and an Agreement (the “TPL Agreement”) between TPL and the Company.
Pursuant to the Program Agreement, PDS has engaged Alliacense to negotiate licenses of certain microprocessor science and design patents (“Patents”) and to pursue claims against violators of the Patents, in each case, on behalf of PDS, TPL, and the Company. The Program Agreement continues through the useful life of the Patents, which is defined as the greater of the period of time when any of the Patents are no longer subject to legal protection or such Patents are reasonably perceived to have commercial value. Pursuant to the TPL Agreement, TPL and the Company agreed to certain allocations of obligations in connection with the engagement of Alliacense.
On July 17, 2012, the Company entered into an Agreement among Phoenix Digital Solutions, LLC, Alliacense Limited, LLC, Technology Properties Limited, LLC, and the Company whereby the Company agreed to certain additional allocations of obligations relating to the Program Agreement.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. The following material is filed as an exhibit to this Current Report on Form 8-K: |
Exhibit
Number
| 10.7 | Licensing Program Services Agreement effective July 11, 2012 among Phoenix Digital Solutions, LLC, Alliacense Limited, LLC, Technology Properties Limited, LLC, and the Company.* |
| | |
| 10.8 | Agreement effective July 11, 2012 between Technology Properties Limited, LLC and the Company.* |
| | |
| 10.9 | Agreement effective July 17, 2012 among Phoenix Digital Solutions, LLC, Alliacense Limited, LLC, Technology Properties Limited, LLC, and the Company.* |
* The Company has requested confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934. The confidential portions of this exhibit have been omitted and are marked accordingly. The confidential portions have been filed separately with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | Patriot Scientific Corporation | |
| | | | |
| | | | |
| Date: July 17, 2012 | By: | /s/ Clifford L. Flowers | |
| | | Clifford L. Flowers | |
| | | Chief Financial Officer | |
| | | | |
EXHIBIT INDEX
| Exhibit | |
| Number | Description |
| | |
| 10.7 | Licensing Program Services Agreement effective July 11, 2012 among Phoenix Digital Solutions, LLC, Alliacense Limited, LLC, Technology Properties Limited, LLC, and the Company.* |
| | |
| 10.8 | Agreement effective July 11, 2012 between Technology Properties Limited, LLC and the Company.* |
| | |
| 10.9 | Agreement effective July 17, 2012 among Phoenix Digital Solutions, LLC, Alliacense Limited, LLC, Technology Properties Limited, LLC, and the Company.* |
* The Company has requested confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934. The confidential portions of this exhibit have been omitted and are marked accordingly. The confidential portions have been filed separately with the Securities and Exchange Commission.
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