Bluesky
Sorry partner, you have lost me with your little game playing. Anybody that has read my posts over the years would certainly not classify the content as being unrealistic or overly optimistic concerning the Ericy case. I consistently warned of the potential adverse results that can occur in a jury trial involving highly technical issues. Further, I believed that the loser had a potential door closing possibility. I did get excited over the documents found and supplied by the Dallas trio because it added the sex appeal necessary to catch the fancy of a jury. They certainly could not hurt and could greatly enhance our chances during the deliberation stage if the case ever got to that point in the proceedings. I believe that IDCC was also in a great bargaining position with an adversary that had the same immediate goals concerning the launch of W-CDMA. However, based on the enormous world wide sales by Ericy, I never even thought that the past usage figure could possibly be settled for less than a nine digit figure. I actually believed that 250 mil on a pay out with 2-3g licensing going forward would be a low, but acceptable result do to the present condition of the parties. 34 mil just does not get my attention and I would have rather taken a roll of the dice than settle for that figure. The company opted otherwise and I have accepted it because there is no alternative under my investment plans for this company.
With regard to dilution, I have posted many times that I understood the dilution problem, but that I was Ok with the present option plans and its dilution because I considered IDCC a start up after the Mot case. I stated that if these guys could accomplish what their predecessors could not, then they certainly deserved to become very wealthy. I also was the first to point out that IDCC would receive about 120 mil from the exercise of the options adding to the cash account when I was arguing with DD and Ronny late last year. I posted at the time that I did not expect to see management come for more at this next ASM. Well, I was wrong on that expectation and they are asking for 5 Mil more. I have weighed all of the factors and I believe that it is not smart to issue additional shares at this time.
Now, all of this little exercise was started by your criticism of my view as to how the Street will apply the multiples and land on a price level if, as and when Nok and Samsung pay. I still believe that the Street is going to hold IDCC to higher degree of accountability during the 2g recurring income period. I also believe that if management can secure the 3g licenses from the larger infrastructure shops, then they will be afforded the highest multiples in the sector. Finally, I have previously posted on many occasions that management had rewarded themselves with shareholder approval on the basis of the Nok contract a few years back. Because of those events and my desire at this time to halt further dilution, I believe that the shareholders should vote no to the request for additional shares at this time.
As an aside, you were right regarding Festo because we could not have made the leap to GSM. However, Festo was reversed and would not have been a factor in the case.
Now you can twist words and mischaracterize previous posts with another poster, but please refrain from requesting that others get real until you do by not misquoting and recognizing their prior posts and content over the years.
MO
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