I'm not sure in Jim's situation, or when IDCC actually became public, but I am aware how a private placement that goes public works.
Jim might have been one of the first people to invest in IDCC. I have taken risks in private placements and often, they are tied with 1:1 warrant options. Meaning, if I buy 100,000 shares of stock in a PP, I might also get 100,000 warrants exercisable at, say, double what I paid for the shares themselves. It gives an incentive for the risk. Which in a deal like this, probably looked like Vegas odds.
Then, when the company goes public, they must point out the various shares that are "offered" for sale (which is nothiing more than a conversion process to make them tradeable). He may still have the original shares. Who knows.
I have absolutely no idea how Jim was involved in the beginning or how he acquired those shares, but I think it's pretty unfair of you to post several posts in a row implying as if the man is doing something wrong (pumping IDCC, etc) when this is a pretty standard, legal process, if he acquired those shares in the scenario I mentioned above (which fits with his response).
Furthermore, Jim doesn't *have* to explain himself if he doesn't want to. He's a private citizen, not a member of the BoD or an officer, and has every right not to explain the situation, just as you don't have to explain the shares you own or don't own. He's been nice enough to offer an explanation though.
Probably not my place to chime in, but nobody made any mention of this, and your baseless attacking of him, provoked me to.
MB
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