Sorry, I can no longer take chill pills with these guys. I do not want to wake up one day next quarter and find out that the accrued revenue has been applied to the purchase price, the core patents are considered paid up and our outside auditors are requiring us to treat the entire transaction as an asset sale just to say we had a date and got a feel off of Intel. When these guys start answering questions with "no answers because of wink, wink confidentiality", they have force trained me to hold my knees together and grab my wallet. Regardless what they say, recurring revenue is still the ticket until a true expert from the wireless sector declares a value for the IDCC patent portfolio. One time lump sum deals will not get the job done.
A simple explanation that the patent sale involves the terminal division and the arbitration involves the chip manufacturing side and they are not related would have much better for me. They were quick to tell us that the patents involved in the transaction did not include those being asserted in the two ITC investigations. So why not state that the patents involved in the arbitration are also not involved. What is so secretive?
I quit drinking Koolaid in January of this year. I also watched a former analyst get destroyed on these boards for what turned out to be a correct interpretation of the Apple deal. I hope my frustration with the answer today turns out to be wrong, but I have watched these guys do funny things just to be seen with the big boys at the CYO dances. When Intel executes a license for our core patents, I will believe that they will be fighting with us.
MO
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