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I learned about portions when I was little when my older brother would split a candy bar with me. If I didn't watch him like a hawk, his portion always got bigger and mine always got smaller. LOL LOL
philam, I dream of Neomedia helping my financial situation also but every time I dream about it, YA enters the dream and it turns into a nightmare. LOL...LOS
ricky, I never said they'd get to convert at .001. That's why I see no reason for that change of par in the 8K. Unless you or I match any YA conversion at the same proportional ratio of shares we now hold, our portion of Outstanding shares diminishes. It doesn't matter what price they convert at. Our .0048% post split [portion] of 5 billion authorized shares will stay .0048% until this management gives YA the vote again and they vote to authorize more shares. Remember I'm talking about Portions. I know when shares from authorized shares become outstanding shares it dilutes my portion of outstanding shares, I suppose sometimes that's expected but when they, with a stroke of the pen cut all combined retail shareholders portion of authorized shares from 48% to .0048%, That is a really disgusting thing to me. Don't get me wrong,I hope the "value" of my greatly diminished "portion" of this becomes worth a lot more than I have in it. WE'll see. P.S My apologies to all about my constant use of the word PORTION today, LOL ...LOS.
Phoenix, Those are not guaranteed numbers post split. This management can basically give YA terms in another 8K that could drastically change those numbers when borrowing new money after this 2.5 million runs out. I guess I've lost faith in our management when they deal with YA, LOS
Phoenix, Iain McCready said we will continue to seek investments from YA [Yorkville] and/or other investors. What has happened with any unused authorized shares so far when we sought investment from YA? [P.S. I broke it down in portions of authorized shares for that reason. The dollar amount would be the same that one day. My portion of this will diminish just as fast as YA can get their hands on those authorized shares. LOS Also, I'm sorry to say that since I came on this board you're the first one to tthrow derrogatory remarks out at me. I'm a big boy and they don't bother me but just sorry to see it. I've had others correct me but always in better ways. LOS AS a matter of fact my portion will be smaller after the reverse split as long as those authorized shares exist.
Les, If they would take out the reduction of par to .001 and take out the 5 billion authorized shares and only do a reverse split to try and eventually get listed on Nasdaq, my fear of YA's intentions would be lessened. I once thought that YA would take a strong position of common shares and redo any remaining debt instruments, if any, to some form of non-dilutive instruments to prove to the investment community that dilution of this was over and then pull for this stock to run along with the rest of us. To simple and naive, I guess. This 8K only guarantees to the investment community that YA has only strengthened their ability to continue to dilute if they so choose with apparantly no end. With YA's reputation as a diluter, I don't think big investors will get interested. Even with YA in, something that showed a written clearcut exit strategy for Neomedia from YA's dilution would help I believe this 8K shows no such exit strategy. Think about this. We are forced to rely on the investment community to get interested to improve our conditions with YA. I believe it has to work the opposite way. Our conditions with YA must be improved before the investment community will get interested. To achieve any shareholder success it seems our CEO and BOD with YA are sort of driving this vehicle backwards especially if they care at all about our investment interests in this. LOS
Phoenix, When I walk out of the door after the meeting will I have 1/100th of my shares? When I walk out of the door will there still be 5 billion authorized shares? ? LOS
phoenix, If you hold those shares until the meeting, You effectively paid 60 cents apiece for them.LOS
I didn't say own, I purposely said has claim to.
I have divided the value of this company into PORTIONS of authorized shares. As it stands right now we own a 48% portion of 5 billion authorized shares of this company. YA has claim to the other 52%portion. In a few days my portion as well as all retail shareholders portions of those 5 billion authorized shares is going to be reduced by 99 shares for each one share we get to keep. YA has claim to all of the 5 billion authorized shares we don't own. After the 8K, YA will still have claim on all of the 5 billion authorized shares we don't own. Our portion will have gone from a 48% portion to a .0048% portion and YA's portion will have gone from a 52% portion to a 99.92% portion of the authorized shares. Depending on what the conversion price is, the 5 billion authorized share number can grow even more, as a matter of fact 5 billion authorized shares is not enough to cover if YA fully converted at fixed conversion price or low look back price right now without even loaning this company another cent. IF any new authorized shares are ever authorized, YA will have claim to them also, which means their portion of this company grows and our portion shrinks even less than the measely .0048% portion were being left with now. We can jockey around with numbers all we want but when you break this company down into portions of authorized shares and who owns portions of those authorized shares the above is true and if we want to own the same portion of authorized shares after the reverse split that we have now, we have to buy them from YA's portion of authorized shares [Thus our shareholders rights offering to maintain our proportionate share of the company.] It is pretty ugly isn't it! LOS
Arp, I didn't want to get in the middle of anything, but I can only speak for myself, I trust your understanding of the numbers, your understanding of the documents, as well as your motives. Please keep up the good work. Much understanding can be gained by inexperienced people like me from your posts. Your work is appreciated. LOS
ricky, I have to break things down as simple as possible in order to try and understand them. I look at it this way, Les mentioned market cap of this company. What percentage of this companies market cap did we retail shareholders own and what percentage did YA own or have the ability to own before this 8K. Now what percentage of the market cap will we own after this 8K? Our percentage of market cap will be vulnerable to YA. YA has proven they can take the majority vote any time they wish. Did you see the number of shares they could potentially convert to in Krays charts. Increases in AS can be voted in any time YA wants. LOS
les, I'm not as experienced in this as most of you guys, but I'm having a hard time understanding the need for the reduction in par to .001 in any scenario that could be good for shareholders. I totally agree that this company is primed and ready to grow. I however respectfully disagree that this stock price will grow to a .05 or .10 into the face of a 1 for 100 reverse split and even worse a reduction in par to .001. These agreements in this 8K simply give YA the means and ability to capture nearly all of any gains in market cap this company achieves. The "real" investors would not touch this with YA's reputation as long as they [YA] hold the position this 8K affords them. Did you get a chance to review Krays charts? I truly wish that we all come out of this okay with our investments but with YA involved, I'm having serious doubts that YA has any intention of allowing us a fair share of the growth of this companies market cap. Thanks, LOS
Also, Another study that may be helpful would be to study how the SAIC-Network solutions deal was handled [new issue of class B common stock at much higher price] and eventually sold to Verisign. I have no idea of what is about to happen until the proxy statement and info about the meeting comes out but a little knowledge ahead of time about some of the possibilities won't hurt. If we don't need it what have we lost other than we have learned some things and that's not a bad thing.LOS [P.S. I intend to try to prepare myself for as many possibilities as I can. I will not totally rely on what this CEO tells us. To put it bluntly, I do not trust Iain McCready.]
Please read the different methods Majority shareholders and companies use to execute MINORITY SHAREHOLDER FREEZEOUTS! Then go back and read the 8K carefully and look for new language in 8K not in any previoue filings that is common to some of the case studies of freezeouts. This may not occur but it won't hurt to know our options just in case. LOS
vero, It was just one of the things I read when googling to understand what "shareholder rights offering" meant. More experienced hands at this than I am will have to explain how it could all fall into place. There could be other meanings. I would think that all the business to be acted on at the special shareholders meeting would have to be made known a certain amount of time before the meeting for our opportunity to consider before the meeting. However unless it only concerns minority shareholders; YA can do whatever they wish since they have been given the majority vote.LOS [P.S. it still stinks doesn't it.]
vero, keep looking, you're definitely on the right trail as to where YA is planning to take this. LOS IMO [P.S. one definition I read is you will have to buy newly issued shares to maintain the proportional position in the company that you now hold.] Sort of stinks doesn't it. LOS [First dibs on some new shares to get back to where you are right now]
For one thing someone knows you can read the 8K and understand all the new language slipped into this one that was never in the old filings. LOS
Phish, Try this on for size. Reverse split leaving us with 100 times less shares, then YA [and they can] drives the PPS back down then comes our minority shareholder fairness offering. LOS
"there's a lot more here than meets the eye"....Claw, you have it 1000% correct. My best wishes...LOS
philam, Can you or anyone else here tell me the name of the Canadian Business entity owned by a YAGI principal as alleged in the Corbalis suit? I have followed the movement of some of the Argo Global people since the mysterious sell of 77mil shares of Neom stock at .002 back in Sept. I believe sold by Argo through Credit Sueisse. Four of the Argo people are now with a Canadian investment fund. My limited research abilities have not allowed me to find the name of the business mentioned in the Corbalis suit yet. Any info will be appreciated. Thanks LOS
ricky, Do you think that YA would not be clever or devious enough to have a block of shares set aside through strawmen to use to insure this stock reacts which ever way they desire during this so called lockout? LOS
Dear Mr. Iain McCready, Chief Executive Officer Neomedia Technologies, I am having trouble giving you the benefit of doubt. Sir, could you help me out. Do I believe your WORDS which indicate a glowing amount of progress under your watch. Words like; recently our time has come, working to accelerate our market leadership, important initiatives have been embarked upon, will reach the day when the industry and marketplace will recognize our success [implying we have success], follow our progress [indicating there has been progress in the broader ecosystem], or do I believe your ACTIONS. My problem, Sir, is then I read the recent 8K which is your actual ACTIONS. Credit is normally negotiated and include the credit worthiness of the borrower. Your actions, Sir would indicate the credit worthiness of this company has deteriated by tenfold to one hundredfold depending on how one chooses to view it, but none the less deteriated [under your watch] I'm having a problem understanding why you view the credit worthiness of this company which your WORDS so glowingly portray and should have definitly improved, so low that you would agree to the terms in the recent 8K. If you could offer more clarity in this I and most likely some other OWNERS of this company would be very appreciative. Thank you for your reply which I'm sure will be forthcoming shortly, Charlie Brown, Part Owner of the company which you work for. [Neomedia Technologies not YA [Yorkville]. There seems to be some confusion in your mind of the distinction] Your prompt attention to this will be greatly appreciated.
It is very troubling to me that our CEO [Iain McCready] would put out a comment that would indicate to us as well as to other interested parties [potential Neomedia clients and associations] that he is so naive or to put it more bluntly, ignorant, that he doesn't understand that YA [Yorkville] cannot lose money that they have already recovered. Their risk of loss is nowhere near 50 million dollars as he has implied. But then, of course we know that he knows exactly what is going on with YA and it is a sickening thing to watch. LOS
clawmann, Thank you. Done and Done. LOS
Google and China at war over hacking ripoffs. Wonder how this could effect the ecosystem which, depending on YA we may or may not be a part of.LOS [More of a Dig at YA than a serious question. Sorry LOS]
Maybe Dean Wood will train the new hiree so he can produce as much as he has! LOL LOL LOL
YA have used their tactics on many penny stocks. I am not sure they factored into this one the level of sophistication [knowledge and resolve] of so many of you on this board and other shareholders of this stock Thank you to all! Losmashrt Also possible YA memo; Let it run a little and quiet the masses.
I only have one PM you know who you are and I can't express adequately how much I Thank You! LOS
clawmann, I'm confident the SEC are looking. With the flood of e-mails with YA, Yorkville and neom management in them they're looking. The SEC don't want another episode of being forewarned and doing nothing on their hands. LOS
Ninja, An illusion to show "effort" when needed down the road. LOS [I know IM is intent on growing this company but the question is for who's benefit?]
neom, Reverse split it then depress it even farther. How much cheaper will It get for YA to own it all? YA don't care about AS shares and have effectively lowered the OS share;if they YA own them all. These guys at YA are a bunch of ruthless sons of bi$$$$s. LOS [Also leaving the AS at 5billion is another depressor of this stock. At least to me it is getting clearer and clearer. Google Finance's slip and calling Neomedia a private company was probably accurate only a bit premature.
I know I may be wrong about this but I won't be the first to be wrong about this company's behavior. When has YA ever publicly filed their holdings in Neomedia? I know that as beneficial owner of a majority of this company, they [YA] are required to file but it is also one of the first requirements of the Majority Owner when attempting a Minority Shareholder Freezeout. Also I expected and expect to see puff PR's to give the appearance of "effort" by this company when justifying, when challenged by us minority holders or dissented by us, a so called fairness offering which will appear to be a premium offer but a premium on what market value, the market value that YA has insured to be very low. Don't forget the use of strawman sells at depressing prices from a block of shares held very cheaply say bought for around .002. Does that price ring a bell? [If I'm right, we should have little problem proving YA has intentionally depressed the market value of this stock. If it ever comes to it.] The 8K was designed to depress the value of this stock also!
Very good response on GOMO. Also, this stock [NEOM] may have rallied to a higher PPS but was beaten back down everytime by YA dumping, 1. for short term profits and plenty of them. Maybe all of their money, I don't know how much but a lot. 2. Keep the market value of this stock down for their ultimate goal and I've already stated what I believe that is. LOS I know many would ask, why not just foreclose earlier as YA could have at anytime. Which would you rather own very cheaply, a bankrupt company or one merging and on the cusp of a start to prosperity?
Also, These things don't happen overnite, can you imagine how IM's and MZ's asses must have drawed up when the topic of question touched on YA's voting rights in the last conference call? LOS P.S. To close for comfort thus no CC since?
Acquisition is one of the ways YA can use to accomplish their ultimate goal. Minority Shareholder Freezeout. LOS P.S. Don't forget how devious the folks at YA can be. I believe this has been in the works for a long time.]
goph, It fits with what I believe is happening. LOS
Arp, I know you've read section 4.2 paragraph G carefully.LOS [P.S. I think we've just recently found the Sept. 14th 77 million mystery shares] Don't forget in the 8K that the company and YA will work on a shareholder fairness offering.
I'm not asking anyone here to accept my opinion on this but I hope that many here will take some time if you have it and research Minority Shareholder Freezeouts. I am 100+% convinced that is what has begun to be put into play here by YA.LOS
Thank you Comet Man for posting this link. LOS [ This is the lamest thing I've ever read with this situation as it is. This man, Iain McCready, belongs to YA heart and soul.]