InterDigital Inc (IDCC)

[loophole73]

To all who wished me well

I am 2 weeks post surgery and feeling a little stronger each day. I had massive toxic poison pockets and have lost a graet deal of weight. My recovery will be longer than I was ready to accept, but at this point I feel very lucky to have the opportunity. I was apparently closer to the end than I realized.

As far as existing licensees ceasing paying, this has been an open and obvious problem for years and has occurred on a couple of occasions in the past. NEC, Sharp and Samsung have placed us in cash flow problems before and now NEC and Sharp make up about 2/3's of our revenue. Samsung is just awaiting the Nok arbitration result at which time Nok, Samsung, NEC and Sharp will provide the bulk of our revenue through 2006.

Again IDCC has stated that past royalties will be recognized as "other revenue" when paid. This sum will be substantial and will help the balance sheet to become one of the most attractive on the Street. The share price will move nicely. However, before we can get that tiger to sit still for its manicure, 3g licensing must fold into the business plan. 3g licensing with several Oem's will cause the cap to be set in accordance with the multiples of other companies whose expectations became a reality for their shareholders.

I doubt that any existing licensees are planning to cease paying because of the increase in 3g activity and the short window left before a final ruling on the Nok arbitration. I believe we are now less than a year from a published decision that should make us all happy.

Again, thank you to all that have been in my corner during my personal problems. I will never forget you and the impression you made on me and my family. I know that I spoke with some of you at the hospital, but I was inchoherent at the time. I am on the road to recovery and will certainly do all I can to speed this up. I will still be unable to post often because I am tired from this effort.

MO
loop