InterDigital Inc (IDCC)

[ams13sag]

Last year the shares were hitting new highs.

14/May/03 $27.50

05/June/03 $27.96

06/June/03 $28.85

At last years ASM the Board of Directors share give away was soundly defeated.

This years ASM will be held on the 03/June/04, by the looks of things the shares will be hitting a new low, and the BOD has reversed last years defeat with an even bigger give away. Over the time period since last June costs have shot up licenses of a meaningful nature have become invisible. What was it our CEO said about a watershed agreement with Ericy way back in March 2003. Before MG was appointed CEO, the current CEO was not considered good enough by the BOD. Looks like a good decision then, but like the share give away, reversed and as a result we are suffering.

AMS