Today, Taglich Brothers, Inc. announced that it has initiated coverage of Patriot Scientific Corp. Taglich Brothers is known for focusing exclusively on microcap companies. The full-service broker dealer currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.
In the 36-page report, Taglich Brothers stated, “We are initiating coverage on Patriot Scientific Corporation (OTC BB: PTSC) with a Speculative Buy rating and a twelve-month price target of $0.25 per share based on our expectations for operating revenues and earnings of affiliated companies and a relative analysis. Our rating is based on the potential growth opportunities of the Company’s secure data sharing services and products.
Based on results for the first nine months of fiscal 2009, we estimate fiscal 2009 total revenue of $6.069 million, an EBITDA loss of $4.654 million, equity in earnings of affiliated companies of approximately $7.047 million, and net income of $0.538 million or $0.00 per share. Based on the growth potential of PTSC’s secure data exchange technology, we estimate fiscal 2010 total revenue of $5.400 million, an EBITDA loss of $4.260 million, equity in earnings of affiliated companies of $5.4 million, and net loss of $0.270 million or ($0.00) per share.”
To view the complete report, click the following link: http://www.taglichbrothers.com/equityuniverse/companies/patriotsci/patriotsci-04292009.pdf
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