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<TITLE>Patriot Scientific Corporation Form S-8</TITLE>
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<P align="center"><FONT size="2">As filed with the Securities and Exchange Commission on January&nbsp;22, 2002</FONT>

<DIV align="right"><FONT size="2">Registration No. ____________</FONT></DIV>

<P align="center"><FONT size="2"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B><BR>
Washington, D.C. 20549</FONT>

<P align="center"><FONT size="2"><B>FORM S-8</B><BR>
Registration Statement<BR>
Under The Securities Act of 1933</FONT>

<P align="center"><FONT size="2"><B>PATRIOT SCIENTIFIC CORPORATION</B><BR>
(Exact name of Registrant as specified in charter)</FONT>

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        <TD width="5%">&nbsp;</TD>
        <TD width="44%">&nbsp;</TD>
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<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Delaware</B><BR>
(State or other jurisdiction<BR>
of incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>84-1070278</B><BR>
(IRS Employer<BR>
Identification Number)</FONT></TD>
</TR>
</TABLE>

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<TR valign="bottom">
        <TD width="51%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="44%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>10989 Via Frontera<BR>
San Diego, California 92127<BR>
(858)&nbsp;674-5000</B><BR>
(Address and telephone number of registrant&#146;s<BR>
principal executive offices and principal place<BR>
of business)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>Lowell W. Giffhorn, Exec. V.P. &#038; CFO<BR>
10989 Via Frontera<BR>
San Diego, California 92127<BR>
(858)&nbsp;674-5000</B><BR>
(Name, address and telephone number<BR>
of agent for service)</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="3"><B>STOCK COMPENSATION PAYABLE TO CONSULTANTS</B></FONT>

<DIV align="center"><FONT size="2">(Full Title of the Plan)</FONT></DIV>

<P align="center"><FONT size="2"><B>With Copies to:</B></FONT>

<DIV align="center"><FONT size="2"><B>Otto E. Sorensen, Esq.<BR>
Luce, Forward, Hamilton &#038; Scripps LLP, Attorneys at Law<BR>
600 West Broadway, #2600, San Diego, California 92101<BR>
(619)&nbsp;236-1414</B></FONT></DIV>

<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>

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        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
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        <TD colspan="17"><HR size="4" noshade></TD>
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<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Title of</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Proposed</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Proposed</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Each Class</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Amount</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Maximum</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Maximum</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Amount of</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">of Securities</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Being</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Offering Price</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Aggregate</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Registration</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Being Registered</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Registered</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Per Share</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Offering Price (1)</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Fee (2)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="17"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Stock</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">1,200,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">0.125</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">150,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">35.85</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="17"><HR size="4" noshade></TD>
</TR>
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<P>

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<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated for purpose of calculating the registration fee.</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The fee with respect to these shares has been calculated pursuant to
Rules&nbsp;457(h) and 457(c) under the Securities Act of 1933 and based upon
the average of the bid and ask prices per share of the Registrant&#146;s Common
Stock on a date within five (5)&nbsp;days prior to the date of filing of this
Registration Statement, as quoted on the OTC Electronic Bulletin Board.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">1
</FONT>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1: Plan Information.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2: Registrant Information and Employee Plan Annual Information.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. Exemption From Registration Claimed.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="a78511ex4-23.txt">EXHIBIT 4.23</A></TD></TR>
<TR><TD colspan="9"><A HREF="a78511ex5-4.txt">EXHIBIT 5.4</A></TD></TR>
<TR><TD colspan="9"><A HREF="a78511ex23-1.txt">EXHIBIT 23.1</A></TD></TR>
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<!-- link1 "PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART I</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></FONT>

<!-- link2 "Item&nbsp;1: Plan Information." -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;1: Plan Information.</B></FONT>

<P><FONT size="2">Patriot Scientific Corporation (the &#147;Company&#148;) is offering the common stock as
compensation for services rendered by the consultants listed below. The common
stock will be issued to the intended recipients upon the effective date of this
registration statement as payment for consulting services. The common stock is
not being offered pursuant to a plan, but pursuant to a financial consulting
services agreement, attached as an exhibit hereto. The
issuance of the common stock is not subject to the Employee Retirement Income
Security Act of 1974. Additional information may be obtained from Lowell W.
Giffhorn, President, Executive Vice President and Chief Financial Officer of
the Company. Mr.&nbsp;Giffhorn&#146;s address is 10989 Via Frontera, San Diego,
California 92127 and his telephone number is (858)&nbsp;674-5800.
</FONT>
<P><FONT size="2">The Company is offering an aggregate of 1,200,000 shares of its common stock,
$0.00001 par value per share, pursuant to this registration statement.
</FONT>
<P><FONT size="2">The following persons are participating in the distribution made pursuant to
this registration statement:
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">
<TR valign="bottom">
        <TD width="32%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Name</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Number of shares</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Nature of services</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">M. Blaine Riley</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
400,000
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Financial Consulting Services</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Randall Letcavage</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
400,000
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Financial Consulting Services</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Rosemary Nguyen</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
400,000
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Financial Consulting Services</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">Each of these participating persons is under contract to provide bona fide
financial consulting services to the Company as consideration for the shares
and are believed by the Company to be within the term &#147;employee&#148; as defined for
purposes of Form&nbsp;S-8.
</FONT>
<P><FONT size="2">The shares will be treated as ordinary income at the fair market value thereof
on the date of receipt under the Internal Revenue Code (&#147;Code&#148;).
</FONT>
<!-- link2 "Item&nbsp;2: Registrant Information and Employee Plan Annual Information." -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;2: Registrant Information and Employee Plan Annual Information.</B></FONT>

<P><FONT size="2">Upon written or oral request, the Company will provide, without charge, a copy
of all documents incorporated by reference in Item&nbsp;3 of Part II of this
Registration Statement, which are incorporated by reference in the Section
10(a) Prospectus, and all other documents required to be delivered to
&#147;employees&#148; pursuant to Rule&nbsp;428(b) promulgated under the Securities Act of
1933, as amended, (the &#147;Securities Act&#148;). All requests should be made to
Patriot Scientific Corporation, Attn: Lowell W. Giffhorn, President, Executive
Vice President and Chief Financial Officer of the Company. Mr.&nbsp;Giffhorn&#146;s
address is 10989 Via Frontera, San Diego, California 92127 and his telephone
number is (858)&nbsp;674-5000.
</FONT>
<!-- link1 "PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference." -->
<DIV align="left"><A NAME="004"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents are incorporated by reference in this registration
statement of Patriot Scientific Corporation, a Delaware corporation
(&#147;Company&#148;), and in the related Section&nbsp;10(a) prospectus:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="right" nowrap><FONT size="2">(a)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">The Company&#146;s annual report on Form&nbsp;10-KSB for the fiscal year
ended May&nbsp;31, 2001;</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">2
</FONT>

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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="right" nowrap><FONT size="2">(b)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">The Company&#146;s quarterly reports on Form&nbsp;10-Q for the fiscal
quarters ended August&nbsp;31 and November&nbsp;30, 2001;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="right" nowrap><FONT size="2">(c)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">The Company&#146;s current report on Form&nbsp;8-K dated August&nbsp;10, 2001;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="right" nowrap><FONT size="2">(d)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">Item&nbsp;11 (Description of Securities) contained in registration
statement on Form&nbsp;8-A of the Company, SEC file No.&nbsp;0-22182.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents filed by the Company pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the
filing of a post-effective amendment which indicates that all securities
registered hereunder have been sold and which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this
registration statement and to be a part hereof from the date of filing of such
documents.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Registration Statement, any statement contained in a
document incorporated or deemed to be incorporated herein by reference shall be
deemed to be modified or superseded to the extent that a statement contained
herein or in any other subsequently filed document that also is or is deemed to
be incorporated herein by reference modifies or supersedes such statement. Any
statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Registration
</FONT>
<!-- link2 "Item&nbsp;4. Description of Securities." -->
<DIV align="left"><A NAME="005"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. Description of Securities.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel." -->
<DIV align="left"><A NAME="006"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note applicable.
</FONT>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Article&nbsp;NINTH of the Company&#146;s Certificate of Incorporation,
and as permitted by Section&nbsp;145 of the General Corporation Law of Delaware, the
Company may indemnify its directors and officers under certain circumstances
against reasonable expenses (including court costs and attorney&#146;s fees),
judgments, penalties, fines, and amounts paid in settlement actually and
reasonably incurred in connection with any action, suit or proceeding, whether
civil, criminal, administrative or investigative, to which any of them is a
party by reason of his being a director, officer, employee, or agent of the
Company if it is determined that he acted in accordance with the applicable
standard of conduct set forth in such statutory provisions. Thus, the
indemnification provisions will protect officers and directors from liability
only if the officer or director meets the applicable standard of conduct and
the Company has the financial ability to honor the indemnity. Insofar as
indemnification for liabilities under the Securities Act of 1933 may be
permitted to directors, officers or persons controlling the registrant pursuant
to the General Corporation Law of Delaware, the Certificate of Incorporation,
or otherwise, the registrant has been advised that, in the opinion of the
Securities and Exchange Commission, such indemnification is against public
policy as expressed in such Securities Act, and is, therefore, unenforceable.
</FONT>
<!-- link2 "Item&nbsp;7. Exemption From Registration Claimed." -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. Exemption From Registration Claimed.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<!-- link2 "Item&nbsp;8. Exhibits." -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The exhibits to this Registration Statement are listed in the Exhibit
Index commencing at page EX-1 hereof.
</FONT>
<P align="center"><FONT size="2">3
</FONT>

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<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="010"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings.</B></FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes:</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;(a) to file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement;
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;to include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;to reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;to include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement; provided,
however, that paragraphs 1(a)(i) and 1(a)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the
Company pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;that, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;to remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefit plan&#146;s annual
report pursuant to Section&nbsp;15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the
Company pursuant to the foregoing provisions, or otherwise, the Company has
been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Company of expenses
incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the securities
being registered, the Company will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question of whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by a final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">4
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe
that it meets all the requirements for filing on Form&nbsp;S-8 and has duly
caused this registration statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in San Diego,
California,
on the date below.
</FONT>
<P align="left"><FONT size="2">DATED: January&nbsp;22, 2002</FONT>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR>
        <TD width="50%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2"><FONT size="2"><B>PATRIOT SCIENTIFIC CORPORATION</B></FONT></TD>
</TR>

<TR><TD>&nbsp;<BR>&nbsp;</TD></TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">By&nbsp;&nbsp;&nbsp;</FONT></TD>
        <TD><FONT size="2">/s/&nbsp;&nbsp;&nbsp;LOWELL W. GIFFHORN</FONT></TD>
</TR>
<TR>
        <TD colspan="2"><FONT size="1">&nbsp;</FONT></TD>
        <TD><HR size="1" noshade color="#000000"></TD>
</TR>
<TR valign="top">
        <TD colspan="2">&nbsp;</TD>
        <TD><FONT size="2">
Lowell W. Giffhorn, President, Exec. V.P. &#038; Chief Financial Officer</FONT></TD>
</TR>
</TABLE>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following
persons, in the capacities and on the dates respectively indicated.
</FONT>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="30%">&nbsp;</TD>
        <TD width="8%">&nbsp;</TD>
        <TD width="40%">&nbsp;</TD>
        <TD width="8%">&nbsp;</TD>
        <TD width="14%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Signature</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Title</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Date</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;DONALD BERNIER<BR>
</FONT><HR size="1" noshade><FONT size="2">
Donald Bernier</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chairman, Chief Executive Officer and Director (1)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">January 22, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;LOWELL W. GIFFHORN<BR>
</FONT><HR size="1" noshade><FONT size="2">
Lowell W. Giffhorn</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
President, Executive Vice President and Chief Financial Officer, Principal Financial Officer, Principal Accounting Officer and Director (1)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">January 22, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;DAVID POHL<BR>
</FONT><HR size="1" noshade><FONT size="2">
David Pohl</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
President, Vice President of Administration, Secretary and Director (1)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">January 22, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;HELMUT FALK JR.<BR>
</FONT><HR size="1" noshade><FONT size="2">
Helmut Falk Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">January 22, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;CARLTON JOHNSON<BR>
</FONT><HR size="1" noshade><FONT size="2">
Carlton Johnson</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">January 22, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;MIKLOS B. KORODI<BR>
</FONT><HR size="1" noshade><FONT size="2">
Miklos B. Korodi</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
President, Vice President of Sales and Marketing (1)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">January 22, 2002</FONT></TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" align="right" nowrap><FONT size="2">(1)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">In August 2001, the Board of Directors appointed Donald Bernier as
Chairman of the Board and Chief Executive Officer and appointed Mr.
Giffhorn, Mr.&nbsp;Korodi and Mr.&nbsp;Serge Miller to serve jointly as the
President. In November 2001, Mr.&nbsp;Pohl was appointed by the board to serve
jointly as the President replacing Mr.&nbsp;Miller.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">5
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="012"></A></DIV>
<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are included as part of this registration
statement. References to the &#147;Company&#148; in this Exhibit&nbsp;Index mean PATRIOT
SCIENTIFIC CORPORATION, a Delaware corporation.
</FONT>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2"></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
4.23
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Financial Consulting Services Agreement between the Registrant and M.
Blaine Riley, Randall Letcavage and Rosemary Nguyen</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
5.4&nbsp;&nbsp;
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Opinion of Luce, Forward, Hamilton &#038; Scripps LLP, Attorneys at Law</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of BDO Seidman, LLP</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.2
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of Luce, Forward, Hamilton &#038; Scripps LLP (contained in Exhibit&nbsp;5.4 hereto)</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2">&nbsp;</FONT>


</BODY>
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{"company-data": {"conformed-name": "PATRIOT SCIENTIFIC CORP", "cik": "0000836564", "assigned-sic": "3669", "irs-number": "841070278", "state-of-incorporation": "DE", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-81156", "film-number": "02513964"}, "business-address": {"street1": "10989 VIA FRONTERA", "city": "SAN DIEGO", "state": "CA", "zip": "92127", "phone": "8586745000"}, "mail-address": {"street1": "10989 VIA FRONTERA", "city": "SAN DIEGO", "state": "CA", "zip": "92127"}, "former-company": {"former-conformed-name": "PATRIOT FINANCIAL CORP", "date-changed": "19920521"}}
Patriot Scientific Corporation Form S-8
Table of Contents
As filed with the Securities and Exchange Commission on January 22, 2002
Registration No. ____________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
Registration Statement
Under The Securities Act of 1933
PATRIOT SCIENTIFIC CORPORATION
(Exact name of Registrant as specified in charter)
Delaware
(State or other jurisdiction
of incorporation or organization)
84-1070278
(IRS Employer
Identification Number)
10989 Via Frontera
San Diego, California 92127
(858) 674-5000
(Address and telephone number of registrant's
principal executive offices and principal place
of business)
Lowell W. Giffhorn, Exec. V.P. & CFO
10989 Via Frontera
San Diego, California 92127
(858) 674-5000
(Name, address and telephone number
of agent for service)
STOCK COMPENSATION PAYABLE TO CONSULTANTS
(Full Title of the Plan)
With Copies to:
Otto E. Sorensen, Esq.
Luce, Forward, Hamilton & Scripps LLP, Attorneys at Law
600 West Broadway, #2600, San Diego, California 92101
(619) 236-1414
CALCULATION OF REGISTRATION FEE
Title of
Proposed
Proposed
Each Class
Amount
Maximum
Maximum
Amount of
of Securities
Being
Offering Price
Aggregate
Registration
Being Registered
Registered
Per Share
Offering Price (1)
Fee (2)
Common Stock
1,200,000
$
0.125
$
150,000
$
35.85
(1)
Estimated for purpose of calculating the registration fee.
(2)
The fee with respect to these shares has been calculated pursuant to
Rules 457(h) and 457(c) under the Securities Act of 1933 and based upon
the average of the bid and ask prices per share of the Registrant's Common
Stock on a date within five (5) days prior to the date of filing of this
Registration Statement, as quoted on the OTC Electronic Bulletin Board.
1
TABLE OF CONTENTS
PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1: Plan Information.
Item 2: Registrant Information and Employee Plan Annual Information.
PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption From Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 4.23
EXHIBIT 5.4
EXHIBIT 23.1
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1: Plan Information.
Patriot Scientific Corporation (the "Company") is offering the common stock as
compensation for services rendered by the consultants listed below. The common
stock will be issued to the intended recipients upon the effective date of this
registration statement as payment for consulting services. The common stock is
not being offered pursuant to a plan, but pursuant to a financial consulting
services agreement, attached as an exhibit hereto. The
issuance of the common stock is not subject to the Employee Retirement Income
Security Act of 1974. Additional information may be obtained from Lowell W.
Giffhorn, President, Executive Vice President and Chief Financial Officer of
the Company. Mr. Giffhorn's address is 10989 Via Frontera, San Diego,
California 92127 and his telephone number is (858) 674-5800.
The Company is offering an aggregate of 1,200,000 shares of its common stock,
$0.00001 par value per share, pursuant to this registration statement.
The following persons are participating in the distribution made pursuant to
this registration statement:
Name
Number of shares
Nature of services
M. Blaine Riley
400,000
Financial Consulting Services
Randall Letcavage
400,000
Financial Consulting Services
Rosemary Nguyen
400,000
Financial Consulting Services
Each of these participating persons is under contract to provide bona fide
financial consulting services to the Company as consideration for the shares
and are believed by the Company to be within the term "employee" as defined for
purposes of Form S-8.
The shares will be treated as ordinary income at the fair market value thereof
on the date of receipt under the Internal Revenue Code ("Code").
Item 2: Registrant Information and Employee Plan Annual Information.
Upon written or oral request, the Company will provide, without charge, a copy
of all documents incorporated by reference in Item 3 of Part II of this
Registration Statement, which are incorporated by reference in the Section
10(a) Prospectus, and all other documents required to be delivered to
"employees" pursuant to Rule 428(b) promulgated under the Securities Act of
1933, as amended, (the "Securities Act"). All requests should be made to
Patriot Scientific Corporation, Attn: Lowell W. Giffhorn, President, Executive
Vice President and Chief Financial Officer of the Company. Mr. Giffhorn's
address is 10989 Via Frontera, San Diego, California 92127 and his telephone
number is (858) 674-5000.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents are incorporated by reference in this registration
statement of Patriot Scientific Corporation, a Delaware corporation
("Company"), and in the related Section 10(a) prospectus:
(a)
The Company's annual report on Form 10-KSB for the fiscal year
ended May 31, 2001;
2
Table of Contents
(b)
The Company's quarterly reports on Form 10-Q for the fiscal
quarters ended August 31 and November 30, 2001;
(c)
The Company's current report on Form 8-K dated August 10, 2001;
(d)
Item 11 (Description of Securities) contained in registration
statement on Form 8-A of the Company, SEC file No. 0-22182.
In addition, all documents filed by the Company pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the
filing of a post-effective amendment which indicates that all securities
registered hereunder have been sold and which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this
registration statement and to be a part hereof from the date of filing of such
documents.
For purposes of this Registration Statement, any statement contained in a
document incorporated or deemed to be incorporated herein by reference shall be
deemed to be modified or superseded to the extent that a statement contained
herein or in any other subsequently filed document that also is or is deemed to
be incorporated herein by reference modifies or supersedes such statement. Any
statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Registration
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Note applicable.
Item 6. Indemnification of Directors and Officers.
Pursuant to Article NINTH of the Company's Certificate of Incorporation,
and as permitted by Section 145 of the General Corporation Law of Delaware, the
Company may indemnify its directors and officers under certain circumstances
against reasonable expenses (including court costs and attorney's fees),
judgments, penalties, fines, and amounts paid in settlement actually and
reasonably incurred in connection with any action, suit or proceeding, whether
civil, criminal, administrative or investigative, to which any of them is a
party by reason of his being a director, officer, employee, or agent of the
Company if it is determined that he acted in accordance with the applicable
standard of conduct set forth in such statutory provisions. Thus, the
indemnification provisions will protect officers and directors from liability
only if the officer or director meets the applicable standard of conduct and
the Company has the financial ability to honor the indemnity. Insofar as
indemnification for liabilities under the Securities Act of 1933 may be
permitted to directors, officers or persons controlling the registrant pursuant
to the General Corporation Law of Delaware, the Certificate of Incorporation,
or otherwise, the registrant has been advised that, in the opinion of the
Securities and Exchange Commission, such indemnification is against public
policy as expressed in such Securities Act, and is, therefore, unenforceable.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
The exhibits to this Registration Statement are listed in the Exhibit
Index commencing at page EX-1 hereof.
3
Table of Contents
Item 9. Undertakings.
The undersigned registrant hereby undertakes:
1.   (a) to file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement;
(i) to include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii) to reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement;
(iii) to include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement; provided,
however, that paragraphs 1(a)(i) and 1(a)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the
Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement;
(b) that, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof;
(c) to remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
2. The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
3. Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the
Company pursuant to the foregoing provisions, or otherwise, the Company has
been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Company of expenses
incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the securities
being registered, the Company will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question of whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by a final adjudication of such issue.
4
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe
that it meets all the requirements for filing on Form S-8 and has duly
caused this registration statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in San Diego,
California,
on the date below.
DATED: January 22, 2002
PATRIOT SCIENTIFIC CORPORATION
By
/s/   LOWELL W. GIFFHORN
Lowell W. Giffhorn, President, Exec. V.P. & Chief Financial Officer
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following
persons, in the capacities and on the dates respectively indicated.
Signature
Title
Date
/s/   DONALD BERNIER
Donald Bernier
Chairman, Chief Executive Officer and Director (1)
January 22, 2002
/s/   LOWELL W. GIFFHORN
Lowell W. Giffhorn
President, Executive Vice President and Chief Financial Officer, Principal Financial Officer, Principal Accounting Officer and Director (1)
January 22, 2002
/s/   DAVID POHL
David Pohl
President, Vice President of Administration, Secretary and Director (1)
January 22, 2002
/s/   HELMUT FALK JR.
Helmut Falk Jr.
Director
January 22, 2002
/s/   CARLTON JOHNSON
Carlton Johnson
Director
January 22, 2002
/s/   MIKLOS B. KORODI
Miklos B. Korodi
President, Vice President of Sales and Marketing (1)
January 22, 2002
(1)
In August 2001, the Board of Directors appointed Donald Bernier as
Chairman of the Board and Chief Executive Officer and appointed Mr.
Giffhorn, Mr. Korodi and Mr. Serge Miller to serve jointly as the
President. In November 2001, Mr. Pohl was appointed by the board to serve
jointly as the President replacing Mr. Miller.
5
Table of Contents
EXHIBIT INDEX
The following exhibits are included as part of this registration
statement. References to the "Company" in this Exhibit Index mean PATRIOT
SCIENTIFIC CORPORATION, a Delaware corporation.
4.23
Financial Consulting Services Agreement between the Registrant and M.
Blaine Riley, Randall Letcavage and Rosemary Nguyen
5.4
Opinion of Luce, Forward, Hamilton & Scripps LLP, Attorneys at Law
23.1
Consent of BDO Seidman, LLP
23.2
Consent of Luce, Forward, Hamilton & Scripps LLP (contained in Exhibit 5.4 hereto)