blue, I agree that once IDCC has real and sustainable earnings it should increase the number of available shares -- through a split. Even a split with some extra thrown in for direct sales (another tech company I invest in did that a few years ago, and the extra cash it generated pretty much allowed it to survive the last three years until the orders started rolling back in, BIG TIME, a couple months ago) is fine.
But come on man, 20 million shares ISO out of 60 million shares total is getting a bit silly don't you think? Especially since the entire original reason for it was "cash conservation" and IDCC is rolling in cash ("$8-9 per share in cash ... sounds about right to me"). Oh, gotta keep the employees happy right? Retention and all ... except ... the employees aren't getting jack now -- it all seems to find it's way into 10 - 15 peoples pockets -- AND I am pretty certain that a nice fat pay-raise would retain employees just as well as options.
Unless mickey (or who was it that just said it) was right, and management intends to grant themselves into total control of IDCC and then take the company private where they are free to milk the company dry, buy themselves 4 or 5 Bombardiers each, and do it all without having to listen to mean nasty little investors. Wouldn't that be a hoot?
No, face it -- options plans are a lot like government budgeting ... easy to increase, hard to turn off the tap and shrink -- even after the need or service has been filled and the program no longer fills a purpose.
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