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Friday, October 31, 2008 2:45:20 AM
CCwriter, I have never seen anyone post so confidently and be so wrong. As I posted earlier, I think that management pushed out some payables (ie attorney bills) into Q4 when they have more revenues coming in. In my opinion Ronnie is just a bean counter not a manager of business, there is a big difference as we have seen.
You confidently state that IDCC's reduction in expense is due to "pushing out" some payables by delaying payment under the terms of the invoice. News flash for you - IDCC uses the accrual basis of accounting. Expenses are charged to the period in which they are INCURRED, not when they are paid.
Ronny counts beans based on the information available to him. He cleary states his assumptions and the source for each one. If anyone disagrees, Ronny looks at the input and rationally answers, and makes adjustments when he deems it appropriate. Logical and reasoned. His projections have been historically better than the professional analysts and I've yet to see any of his misses caused by anything that he should've known.
So if you or CCwriter or anyone else don't like Mr. Marchmas generous and valuable contributions to the board, ignore him. If you can't ignore him at least refrain from ignorant criticism until you add some value here.
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