InterDigital Inc (IDCC)

[ShallowMind]

I lurk and read all posts daily.

you continue to be a thorn in the side of all who follow this board.

I don't agree. I lurk and read most posts every day, too. I daresay I own more shares of IDCC than a lot of people here, and I'm worried.

I find it interesting that people jump out of their skins at dmiller's posts, but nobody gets bent out of shape when pro-IDCC BS gets spewed out here.

There is a real sense of deja vu here that, to me, feels like the days on Raging Bull when Mickey pounded the drum relentlessly that we were going to get over a billion $ from Ericsson. When I challenged his assertions, I got the hell beat out of by Mickey and lots of others who WANTED him to be right. Later, I dared to question mschere, with similar results.

Joel's assertion that IDCC is *WORTH* over $700/share (can you hear the constant drumbeats in the background?) is ludicrous. How can I say that?

He says it's because Wall Street is blind, or stupid. I think that Wall Street is neither. If there's a chance to make money, BIG money, Wall Street is all over it. They have very smart people working there and more computer power than NASA. Now, some things aren't always obvious and the Street may make a bet that goes bad on something that wasn't obvious, but that isn't the case here.

OK, why am I afraid, and why is Joel wrong. Because we can't license people.

I've been asking this question for over 10 years: if our IPR is so damned good, why aren't OEMs beating a path to our door and showering us with money? Don't tell me that the MOT trial poisoned the well against us. We've had lots of new patents and ongoing claims by management about how valuable our technology is and we still don't license people. We can't be as snake bit as we've in been courts AND have such valuable technology.

Why didn't NOK simply buy us 5 years ago when our market cap was under $500MM, or at least buy a 4.999% stake. Why didn't QCOM, or Samsung? When we were struggling, the poison pill would have been dropped in a nanosecond if good money was offered.

Over the past 5-7 years there have been ample opportunities for big boys with big cash balances to take us out cheap. Cheap, that is, if our IPR is as good as claimed. Nobody, NOT ONE COMPANY, has taken a run at us, and that scares the hell out of me and makes me wonder what this company has to offer.

Now that we're in play, we are going to find out. If we have lots of suitors, then there should be LOTS of buying interest in the stock - interest that runs it up to a level close the final price. The fact that our price is adrift makes me wonder if the initial interest allegedly shown by GOOG and or APPL is already tepid.

What are you guys going to say if GOOG makes an offer at $75 a share and nobody else bids? Are you going to vote against such a deal? Is nobody else on this board besides me considering a bid like that as a possibility?

What will I say if somebody makes a bid at $125, or even $200? I'll say hallelujah, I was WRONG to be worried. Then I'll cash out, buy a big motorhome, and tour the country.

Meanwhile, I don't believe that the 50 or so people that post here know more than the NOK/SAM/LG/MSFT engineers and financial folks, so I can't buy in to the argument that just 7 months ago we were trading at 1/50th of our value, or that we are still undervalued by a factor of 5 or 10. If dmiller shares similar skepticism then you'd all do well to at least consider what he says than complain he isn't blinded to the downside.