Running into babysitting problems -16 grandchildren all under the age of 14- wife not available to type for me-one grandchild graduating from elementary school 7pm tonight -have a commitment tomorrow morning- will complete reporting by the end of the day tomorrow
All reporting is paraphrased.
CLONTZ OPENING REMARKS
None of us are happy with where the stock price is
As you know, earlier in the year, I bought stock well above
where the price is now- 30s? It was a good deal then and I
still think it's a good deal today
We want you to know that we are responsible and accountable
for where we are today
REVIEW OF LAST 12 MONTHS
Stretegic Alternative - There was no bid for the company as a whole
from another company or a consortium although interest was substantial.
(more on this later from BM). While not resulting in a sale, the knowledge
gleaned included a consistent confirmation of the quality and valueof our
core and non-core patents across the board from all viewers of our wares.
With the benefit of hind sight you can debate the SA but we stand by what
we did once Nortell became a benchmark
Industry Change
Good & bad- shows the high quality value of patents but we all know our
experience with the justice system
What IDCC does Well
Best engineers, good managment,good licensing team-slowed by SA
New emphasis and strategy
not offering excuses-just giving you the State of the company
Earn back shareholders trust and respect
pursue more infringers in court
Sales of more assets to joint ventures not just licensing agreements
License a substantial portion of potential licensing by 2014
Monetize technology not just royalties from licensing
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