If the total amount from Apple is directly or indirectly(Chip Sales) is less than Management has stated I will do at least c. and maybe a.. Selling my shares of course would be dependent on the complete picture.
I Would also expect Ronnie to admit if he is wrong.
As an interesting side note Tom Carpenter being the first person to come up with an analysis very similar to Ronnie's appears to have backed off that analysis after hearing managements comments in subsequent CC's. (That is going by memory and admittedly at times I suffer from CRS so I will have to do some research to back up that statement, won't be able to until much later today)By backing off I mean he hasn't repeated it or seemed to question it again.
"The Investors's Chief Problem--and even his worst enemy--is likely to be himself" ---Benjamin Graham
Data, Geesh, I feel like I'm in the freakin' Twilight Zone or something. Please everybody still hung up on this $2M/qtr theory, PLEASE read this post. I apologize for the length, and if this doesn't finally get through to a few of you I will have NOTHING more to say on the matter.
If I had to answer your question now, I would say you have to add another choice: e. None of the above. If as you say it turns out to be a total of $2M/Q royalty (it won't) I will admit my mistake, because like some prima donnas here I am not afraid to admit when I am wrong. As far as whether I will sell my shares, I might just rightfully respond, as I reckon you yourself would, "none of your business". As far as apologizing for questioning "motives"... No, because I feel I have nothing to apologize for.
I have stated here many times in the last 2 days, and in fact openly stated to Ronnie, that in light of his past history with the Company one would have to be a fool to NOT consider his possible motives or question his objectivity. Several others here seem to feel similarly. And most importantly, Ronnie seems to understand this as well; he has denied any prejudice on his part, and it doesn't seem to be a big deal with him.
Why it is such a big deal with you, and Jimlur, and a few others is beyond me. Everybody on this board does at least a quick "consider the source" thought process when reading a post... everybody, including you. You and others consider my motives; I and others consider your motives; and Lord knows you and a few others use to openly question Mschere's motives on a daily basis. This is fact, and just a natural consequence of interaction in this type of forum.
Again, IMO only a fool would accept Ronnie's numbers as fact, especially in light of the fact that the Company disputes them, and without at least considering the possibility of his subjective judgement or motives.
Now I don't know if he has an agenda or not, but it doesn't matter because I, like the CFO and CEO, don't agree with his numbers anyway. And I agree with Revlis and Loop in that Nobody knows what we are receiving or will be receiving from Apple, and if they claim they to they are misleading us.
I again refer to a post of mine to Ronnie, please read it:
These are not my words, these are the CFO, the CEO, and Carpenter's words and they must be authentic because they come from you and everybody knows you are the Holy Grail of credibility and expertise around here, hehehe ;)
This is why I feel like I must be in the freakin' Twilight Zone. Ronnie's whole theory is based on a statement made by the Company during earning's guidance from early Sept 07, some 6 weeks before the earnings release CC referenced in your and my posts above. This statement that Ronnie is basing his whole $2M/Q Theory went something like..."The company expects to receive $20M from a recent license..." So they say they expect to receive $20M during guidance, they didn't say they Did receive $20M; spread over 10 quarters comes to $2M per quarter.
But in the 3rd Q 07 CC the company, both McQuilken and Merritt corrected Carpenter and publicly and specifically DENIED not only: 1. The $20M Amount (its $26M not $20M, McQuilken corrected Carpenter and confirmed this TWICE in the CC), and... 2. Apple as the source of the $26M. McQuilken specifically stated it was a licensee of over one year and Merritt confirmed this. This by definition disqualifies Apple as the source of Ronnie's $20M, or McQuilken's $26M, or my $.02 cents for that matter, because Apple had only been an IDCC licensee for about 2 months. Isn't this correct?
Now if you take away Ronnie's incorrect assumption that Apple paid IDCC $20M, which is the basis of his logic, then his $2M/Qtr theory falls apart like a house of cards. I for the life of me cannot understand why Ronnie, and evidently you, and whoever else believes this hogwash that has been specifically refuted by the CFO and CEO in public, and recorded in the transcript that you yourself posted, can be so hard-headed as to continue to hawk these $2M/Q numbers.
I understand a few here will believe it just for spite and because they think it is somehow cool to be negative IDCC and to disagree with those of us that believe in the company, but for you to seem to believe Ronnie's numbers when the proof of their invalidity is in your own post is beyond the pale.
Here is the dialogue pertaining to the $20/$26M from the 3rd Qtr Earnings CC, and this is the last I will speak about it:
From the transcript: TOM CARPENTER: -- and let me see if I can rephrase your words as closely as I can, you mentioned you had a $20 million prepayment from an existing licensee in the fourth quarter. Just so we're clear on existing licensee, is that a licensee you've had longer than a year or less than a year?
SCOTT MCQUILKIN: First of all, it's $26 million.
TOM CARPENTER: Okay.
SCOTT MCQUILKIN: And, yes is the answer. It's actually longer than a year.
TOM CARPENTER: Which? The one that was -- because I think -- I don't know if there was a $20 million -- so there was a $20 million payment and a $6 million payment?
BILL MERRITT: That was a $26 million payment --
TOM CARPENTER: Okay.
BILL MERRITT: -- from --
SCOTT MCQUILKIN: From an existing licensee.
BILL MERRITT: -- an existing licensee.
TOM CARPENTER: One that's been with you guys ,longer than a year?
SCOTT MCQUILKIN: Yes, sir.
BILL MERRITT: Right.
TOM CARPENTER: Okay.
Later and Best, bulldzr "So often times it happens... that we live our life in chains and we never even know we have the key." The Eagles
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