OT, GE_Jim...
First off, thanks for your opinion. Now for the correction on your figures, XMSR's debt is probably closer to 650 mil now and SIRI' debt is around 250 mil. SIRI recapitalized thier debt a few months ago resulting in massive share dilution (10x) to the tune of 1 billion shares outstanding.
That being said, I find it suprising that someone who would invest/trade IDCC for many years would let one area of concern stop them from looking at the overall picture of a company. The two companies have inked deals with every major auto manufacturer (foreign and domestic). Their product is in every major electronics retailer; as well as WAL-MART and SEARS. Just yesterday I was at a truck stop off the freeway and I saw XM receivers being sold there (it's really big with truckers for obvious reasons). Research has estimated SDARS customer total could reach 50 million by 2010. XMSR says they need 2.5 mil customers to break even. They will have 1.2 mil customers by the end of this year and 2004 is when the auto manufacturers OEM installs will start to really kick in.
I admit to being biased because I own 2 XM receivers and absolutely love the product. I also brought XM stock in the $2 range and SIRI in the 50 cent range, so I've made a killing on these. But, IMHO opinion the story for these two companies is just beginning.
I now know how Loop, Daglish et al must have felt when they came upon IDCC all those years ago.
I close by asking you: What first caught your eye about IDCC? I find it hard to believe it could have been its financial statements.
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