I'm just in from the Annual Meeting. This will be reported in several posts. The big news first: On Monday, PTSC will announce a rather significant design win -- our first for e-commerce devices. We didn't get any details, but a company called Universal Processing Systems (hope I got that right) will be purchasing chips for a period of up to one year to be used in e-commerce devices. (I tried finding info on this company, but so far - nothing. Maybe I heard the name wrong.)
Also, very soon the company will announce a new addition to the executive staff in a newly created position: VP of Business Development. The person filling this post has 47 patents to his name, and he will be working on developing strategic partnerships for the company.
The meeting went very well. There was a guest speaker from Sun Microsystems- Robert Tennant, Group Manager-JAVA2 Micro Edition. He told us how important JAVA will become in the next few years as EVERYONE will use it in their appliances, TV, cars, phones, etc. Just one example he gave was SmartCards. SUNW will ship 20 million this year and expects to ship 100 million next year. It's a $1.2 billion market.
SUNW is NOT creating a Java processor right now -- they are just licensing the technology. PTSC is a licensee of SUNW's, so they are very interesting in what PTSC is doing.
I'll add more to this over the next day or two. Just wanted to get the highlights in now.
Company is in best shape ever -- has the financing, the technology and is "market ready".
Betty
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