Jist1
The only legal talk we had was from me saying our lawyers are over charging and he said IDCC has a review board for lack of a better word and that they did not feel they were being over charged. I disagreed on the behalf of our board attorneys assessment of the fees, He said IDCC had some great lawyers.
I made it clear that even us non lawyers had for years wanted to go to the rocket docket and get this over with. I stated Merritt and the board has cost us shareholders a ton of money by not using this venue. He said this was before he came on board.
I forgot to mention about the salary increases and bonuses and did they justify it. His response was IDCC beat the street by miles in their expected revenues of trying to recall from memory of around 180 million and IDCC had revenues of around 360 and therefor that was the justification. I didn't know what to say and just said how when 8 years later our stock is below what the high price was 8 years ago.
I reinterated that if I was CEO and the stock price was lower than when I was in charge 8 years ago that no way I could say I have accomplished much. I also said I hope the institutional investors feel like us individual investors and if we don't see a significant price increase and new deals done before the shareholders meeting, that I hope they vote them out as I know I will vote against them.
I hope I will be leading the charge to keep them and what a great job they are doing. I feel like good things will be forthcoming. I think IDCC also knows they need to show some positive things before the meeting.
Patrick made it clear the new corporation was a necessity to have in order to do infrastructure deals. If not we would be giving away the handset and other patent revenues. I assume since I didn't go into it that IDCC transferred all the essential infrastructure patents to the other corporation. This I assume will make IDCC be able to generate full revenues on both handset and infrastructure.
JMO
Mickey
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