The share price is going to be determined by the street. Mr. Merritt is correct. The street has now engaged in a different patent evaluation method. The problem right now is his inability to provide the following factors for the evaluation:
1. IDCC and its auditors currently provide a minimal evaluation of its patent portfolio on its public balance sheet.
2. IDCC reported no bids received by other companies during its 6 month during its listing with Evercore.
3. IDCC has yet to prove that it can prosecute and defend its patent portfolio.
4. IDCC has yet to renew licensing with a major sector manufacturer other than through a "paid up" provision for the life of certain patents contained in the initial term of a license for a particular generation.
5. IDCC has never produced licensing of the top 6 six manufacturers at the same time for any of its inventions for any of wireless generations.
The result is a lack of information upon which an evaluation can be determined other than the old method of EPS multiples. Can this be turned around? Absolutely. How?
1. A litigation win.
2. The successful sale of a portion of its patents allowing the company a chance to recalculate its own evaluation of its patent portfolio for balance sheet purposes.
3. Enter into a series of uniform FRANDLY licenses for 3 and 4G with the top 6 sector manufacturers running concurrently for a period of a reasonable time.
4. Engage in some product offerings without limiting its ability to license the rest of its portfolio similar to the Qcom model. Any product efforts that would result in just cross-licensing ability would be a huge mistake. It is imperative that IDCC get away from its past in house knee jerk moves and begin seeking outside counsel for opinions before entering new business models.
Finally, IDCC needs to be aware of the market landscape. It is apparent that ownership of cellphones is moving from a privilege to a right under local and global government. The current move is not to subsidize land phones and to provide mobile phones to any persons under government assistance programs. This has never been a positive for the inventors of technology historically. Thus, time is of the essence for IDDC to work diligently to provide the needed factors for increasing shareholder value. Nortel provided a golden opportunity, but a "wait and see" approach can kill its momentum. I hope they agressively deal with the top dogs including Apple for any unlicensed activities taking place during the sector industry boom. The non inventing patent warehousers are moving forward and IDCC needs to join the party now or they will continue to be at the back of the line.
I hope the company is able to quickly provide the street with the necessary factors to enhance the evaluation of the company for all of the good people who have endured this journey with me over the years. I see my doctor on Monday and am optimistic for a life of less pain in my future.
MO
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