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Re: jmspaesq post# 30160

Monday, 06/02/2003 4:58:39 PM

Monday, June 02, 2003 4:58:39 PM

Post# of 433221
I don't agree with the Heartland position, obviously. LOL. It's not even consistent! If they thought that management was "borderline greedy" then why did they vote for the board members up for election? Only the board (compensation committee) has the authority to issue options.

IDCC exited 1995 with outstanding options of 6.4M with an average exercise price of $6.91. IDCC exited 2002 with outstanding options of 10.5M with an average exercise price of $11.86. Everybody except Mickey will probably agree that the IDCC of 2003 is a much different company from the IDCC of 1995.

Fully diluted O/S went from 48.5M shares in 1995 to 56M shares in 2002 -- an increase of 17% -- while outstanding options went from 6.4M in 1995 to 10.5M in 2002 -- an increase of 64%.

However, R&D also went up from $10M in 1995 to $47M in 2002 -- an increase of 370%! This is the key number.

BSW

P.S. How did you get 28%?




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