Loop, don't you leave before the show is over.
Performance
Our CEO has been making Namath comments and getting Shottenheimer results for quite some time now. His time is running out on the Street. We need some performance very soon. It is apparent that some of his audience is leaving before his show is over.
MO
loop
Yes, this is taking way longer than any of us expected. ERICY was a watershed. Nope. LG will open the floodgates for 3G. Not yet. Management expectations for new licenses have proved to be optimistic. Nokia and the MENS club is digging in their heels and doing all they can to squeeze IP rates as low as possible. That's the bad news and is what is causing frustration in shareholders.
However...
Look at the charts posted by Badgerkid. That ain't bad for a stock that is just started to reach it's potential. Yes, we're waiting a long time but we aren't suffering financially. No one could call us dead money over any of those time frames.
Nokia's suit is focused on FRAND, not non-infringement or non-essential IP. I see that as a big positive. Seems like they know they have to pay, the question is how much.
We have the LG license. It provides the company with more cash than is needed to run the company, so no cash flow worries. It also gives us a good rate to use as a benchmark. Lawyers can bring all sorts of valuation experts to spin IDCCs patents to be worth anywhere from next to nothing to priceless. However, the best indicator of value is what a buyer pays. LG is a major manufacturer, not under any under pressure to license, so it will be very difficult for anyone to justify a rate that varies greatly from what LG is paying.
While the MENS club is banding together to fight paying royalties, we now have QCOM fighting back on our side. They've been successful in the past. They aren't just fighting the little guys - we have a bully on our side too.
So buck up, Loop. The Giants will be playing soon. Maybe 2007 will be the year for IDCC and the Giants.
Frank
