InterDigital Inc (IDCC)

[ams13sag]

Wilco.

Nothing is certain where IDCC is concerned other than the management will contine to overpay themselves for a very poor job.

If the nokia/samsung deal was certain or expected soon, surely the COO and CFO would have some knowledge of such an event. That being the case it must be reasonable to assume that between the pair of them that the share price of the company would be at least according to my conservative figures in the range $32 to $54. Why then did they dispose of their shares. If history tells us anything, it is that what should happen does not happen in this company, basically down to poor management. IMO if nokia decides not to pay, they will not pay and their is very little the company can do about it. Equally so if nokia demands a much lower rate, they will be given it. Why has ws not brought the share price up to a value that reflects the figures issued by management. The reason is as i said after the settlement, they simply do not believe anything that these people say or believe they are unable to support what they say.

HL has come out with a valuation which at best is flaky, how on earth can they include income from nokia/samsung for the second half of 2003 and patently ignore the first six months. Do they beleive that one payments commence, arrears are ignored, yet that is the basis of their valuation.

AMS