InterDigital Inc (IDCC)

[Corp_Buyer]

BSW- Glad you asked. Here is the 50% dilution calculation, and that is BEFORE we count in the 5M more shares requested:

72M / 48M = 50% (current status, w/o 5M more shares)

77M / 48M = 60% (including the request for 5M shares)

These are the facts from the proxy. Read them and WEEP:

http://www.investorshub.com/boards/read_msg.asp?message_id=983037

Posted by: Corp_Buyer
In reply to: None Date:5/7/2003 11:42:00 AM Post #of 24381

72 MILLION SHARES OUTSTANDING ....

Fully Diluted, not including the request for 5M more new shares. That is where we're going, per Management, according to the Proxy. Here are the facts, not perceptions by me, actual quotes from the Proxy (see page 18, table entitled "Equity Compensation Plan Information"):

(a) "55,539,186 shares of Common Stock issued and outstanding at April 7, 2003"

(b) "10,769,434 Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights"

(c) "5,603,153 Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (excluding securities reflected in 1st column)" [1st column = (a) above]

Accordingly, the total fully diluted will be 71.911 Million shares and this total DOES NOT INCLUDE the latest request for 5M shares!!

72M shares outstanding under current plans, not:

* 48.4 M where we were in 1998;
* 55.5 M where we are today;
* 62 M per analyst estimate a while back.

Folks, we will have 77 M shares according to management, if we INCLUDE the additional 5M requested in the Proxy.

...

Vote for no more new shares and no more dilution.

Vote "NO" on proxy proposition #2.

Regards,
Corp_Buyer