Matt Is ABSOLUTELY Correct! And THANKS to JimLUR!!!!
As an original investor in International Mobile Machines Corp (which traded as IMM then IMMC) which later was renamed Interdigital and has traded as IDC and IDCC, I absolutely remember receiving certain warrants along with the common stock.
I was a small investor and the reason I had access to the IPO was that the original CEO (Or maybe he was COO??) Irv Gross, was a friend of my family--he and my father shared space in a suite of law offices before Irv left the practice of law to become involved in IDCC.
It was Irv that hired me, basically to be a 'gofer' as a summer job--Irv had always taken an interest in, and liking to, me ever since I was a kid-and at the time I was pretty much a kid, 18 or 19 years old.
At the end of the summer, I remained at the company, graduating from gofer to a job in the marketing department (which consisted of maybe three people). I also did computer support.
I will spare everyone the rest of my story (which I have posted and just reposted today).
Anyway, not only did I have access to the IPO (well my dad did and we all invested--me and my siblings and my mom and dad) but I was able to buy a small amount of shares. Those shares came with certain warrants. I don't remember what the deal is or when or whether those warrants were ever exercised by us or what.
I'm also aware that along the way there have been certain private placements and other equity deals--and warrants were part of them if memory serves.
Nothing unusual or untoward about it.
Anyone who invested and took the risk and was smart enough (and lucky enough) to profit, I don't see how or why any other investor would begrudge them that.
That's what investing is about--being smart and lucky, taking risks and hopefully reaping rewards.
I don't know or care what Jim Lurgio's holdings or interests were. I know that he is an investor, and a long time and long term investor which is enough disclosure for me.
Other than that I take him completely at his word for the obviously sincere guy that he is. I don't question his sincerity or motives. I don't begrudge him anything he's made as an investor--I say god bless him and I hope he makes much much more. Because then so will I.
However, I would say that any suggestion as to his motivations that casts aspersions on him may well be actionable and I'd be happy to represent him pro bono in such a matter!
Thanks for all that you do Jim!
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