InterDigital Inc (IDCC)

[rmarchma]

Bluesky I get a minimum of $46m recurring royalty revenue per quarter on an ongoing basis. Provided Nokia and Samsung agree to Ericy's 2G royalty rate, and Sharp renews the 2G PDC/PHS contract. I backed-out Nokia and Samsung's 2002 royalties, and Ericy's $34m settlement, from the ongoing recurring calculation. However this calculation does NOT include any new 2G/3G licensees, nor does it include a 3G rate agreement with Ericy/Sony, Nokia, or Samsung. The expenses might be a little more than $20m per quarter though. We should have an additional $400m in cash within the next 12 months according to IDCC, plus the existing $100m balance that we now have.