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Whose side is Iain McCready on in all this? What is the position of the common shareholder today as compared to before Iain took over? What is YA's position today as compared to before Iain took over? Enough said!
lucky, When you took the gamble, you were relying on this company's management protecting your interest as a common shareholder, which is their legal obligation. The preferred shareholder has the written agreement to rely on. We have to rely on management [officers of this company.] This current management team has done nothing I can name to protect the interest of common shareholders. YA doesn't have to even worry about the written instruments. When the previous agreements no longer suit YA, they just get together with this company's officers and ammend them to suit them until they decide to ammend them again. Each time it is to the betterment of YA's position and to the detriment of our [common shareholder] position. Some would say this management kept us alive by surviving on YA's money at these terms. I would answer how many NEOM investors would be thousands of dollars better off if Neomedia had just closed the doors back in 2006, rather than continuing to pour money into this investment in the years since? Especially when hearing such words from IM as "we own the patents and we're in a strong position", or "some have wanted this for free but we're a business and we can't do that" or "we have many licensing agreements I can talk about in 6 or 8 weeks." The list of Iain's strategic announcements goes on but you get my point. Strategic for YA's scheme but not for our benefit. I could say a hell of a lot more but this post is to long already. I share your frustration and I would like to personally kick Iain McCready's two faced ass! Los [P.S. I'm not saying that I would nor that anyone should. I'm just saying I would like to. I'll bet that I'm not the only one who feels this way.]
YA is like a bunch of leaches. Once they attach themselves to a company, it's nothing but somewhat legalized corruption [somewhat] and yet the SEC can't turn off their pornsites long enough to look in to it and offer some regulations to make it more difficult for the YAs to operate in the manner in which they do. Los
What about these half million dollar promissory notes that keep popping up? Is there any evidence that the money actually changed hands when the notes were signed? Don't forget who these guys are! Los
nice, Maybe YA figures to have to fork over some of their ill gotten gains to Neomedia as a result of claw's lawsuit and this is a way for Neomedia to just have to turn around and hand it right back to them? If so, pretty clever uh. Los
IMO, If everything is on schedule, we're less than 2 weeks away from MMI test results. This is no time to be on the sidelines, especially at this PPS. Los
I think some of our bigger VIPR players have been waiting on some 5's and 6's. OK ladies and gentlemen, you know who you are, get back in and let's get this show on the road. Los
iKauai, I hope you get it and then it turns into a 100 bagger for you, which would make mine a little less than a 50 bagger. LOL Good luck, Los
I wonder if Iain and Mike and the folks who work at Neomedia have to get YA's permission to go to the bathroom at work? If we have another CC, and I'm beginning to doubt it, this will be my question. Also, we're nothing but excess baggage to YA/NEOM and oh how they'd love to get rid of us and step by step they seem to be doing a pretty damned good job of it. Los
[EDIT] lucky, Yes it is the worst one so far, but it ain't ambiguous. I didn't think it could get much worse than the Jan. 5th agreement but this one is. I know that YA has held a gun to this company's head for a long time so to speak, with this one, YA just cocked it, or at least as of Aug. 26th it will be cocked. This company had better deliver this time [AT YA's OPTION OF COURSE,] or I'm afraid it's game, set and match. Los
claw, It seems to me that you've accomplished one thing at least. Seems they've gotten a whole lot neater at YA/NEOM headquarters. Seems they have gotten rid of much of the ambiguity and sloppiness in their filings. LOL Los
claw, How can this David Gonzalez character not have a conflict of interest in this? Los
claw, When does the change in control revert back to Neomedia and shouldn't there be some type SEC filing stating such? Los
Goose, I hope we learned our lesson with the last results. I hope we don't play the high expectations game leading up to these results. I hope the company learned also and does a better job of how they release their summary and comments along with the results. As a long here, I believe this would be better in the long run. Los
[EDIT] Nine months since our last CC. Promised quarterly. There is simply no excuse or justification for not having them if things are on the up and up. Los [I'm sorry, I forgot about the "time constraints" senior management is under. Talk about a blatant but lame attempt to pass the buck off to some junior staffers about some shadey derivative transactions and accounting practices and processes. Sometimes it just boggles the mind.]
Thank you Krays for this post.It is very good information to keep in mind! Los
Ninja, If this is correct, this would be something the IRS should take a serious look at. How many companies have been put out of business by this type financing? How many jobs lost? How much tax revenue missed from this loophole? I'm against higher taxes, but I'm not against closing loopholes for companies such as YA. [Make tremendous profit while diluting a companies stock, then take a huge paper write-off when the company files bankruptcy.] This seems pretty damned regressive to me. When YA went to a monthly stipend to NEOM, just enough to keep the doors open and pay their boys, IM and MZ to hang around and make the agreements and amendments to the arcticles of the corporation, I began at that time to suspect if the ultimate success of this company was really YA's goal or not. I still don't know, but it sure as hell makes a person wonder. Los
Lucky, I apologize for not making myself more clear in my post. I now see and tend to agree with your view of YA's plans and the involvement of NEOM management. However, holding that view and then berrating claw's lawsuit just doesn't make sense to me that's all. Nobody at NEOM was ever going to take steps to even remotely correct the situation with YA. [P.S. I agree with most of your views on this, with the exception of your outlook on claw's lawsuit.] Sincerely, Los
krays, The main difference seems to me is that Cobalis' management were not as deeply embedded with YA as Neom's management is. [IM and MZ are YA team players ie.] This is one of the reasons someone else had to take action. THANKS CLAW. Also, I don't understand Lucky's view expressed in his post 215353 about YA and Neom's plan all alomg and his constant negative view of claw's lawsuit. Los
Pop, Is the amount of the debt on the books the same as the cost basis of the shares if fully converted? Los
Why did MZ go to the extent to classify YA a "debtholder" in the company in the SEC filing?
Write-off, that's one angle I hadn't considered. IM may have been helping to set the stage for this with his statement "no investor has more to lose" meaning YA. YA has recovered most if not all of the money they've laid out here by converting and selling stock, yet still show millions of debt owed them by this company, If YA had intended to use this as a tax write-off, and they may very well have for quite some time now [it would explain some of the more frustrating actions, to common shareholders at least, taken since I bought in]. Claw's suit probably put a crimp in YA's plans. Another reason I believe claw's suit was and is a brilliant move at the right time. YA loses the suit then it is no longer just a paper loss for YA. Los
That would include me. Los
Pop, I'll tell you what I think YA is loving. I think that YA is loving seeing claws suit being scapegoated here and blamed for the decline in PPS which masks the real reason this PPS is declining, which involves 770,000 'strawman" shares at .20 [formerly 77,000,000 pre split at .002 which were designed to control this stock price after the split to YA's desired price. Los
cloud, will we be lifted by the tide or swamped? I once thought I knew the answer to that. I'm not sure anymore. Los
claw, I was wrong about the 90 days in the agreement of Jan. 5th. It was originally 120 days as you have recalled, then ammended but you are 100% correct the RS was set in the agreement. Those who would imply that your action either caused or accelerated the RS are doing so for reasons I don't understand, or maybe I do. Los
[EDIT]claw, I haven't forgotten it. Remember the discussion on this board about the term "the company shall [affectuate] a 1 for 100 reverse split within 90 days" in the agreement signed Jan. 5th 2010. [P.S. I can see the jabs being taken at you both openly and subtely, I like cards on the table, either an investor here supports your actions here or they don't, Period, I DO. THANK YOU AGAIN. Los [Also, I have friends who are investors in NEOM, but don't post here and I have spoken with them and they are 100% supportive of your efforts]. Los
Arp, I have always respected your skills in analyzing this stock situation and still do. I however RESPECTFULLY disagree with you about claw's lawsuit. I think it is the best approach to a very bad situation. I also believe NEOM "APPEARED" to have enough options concerning YA and "POSSIBLE" avenues of escaping YA's death grip prior to the Jan. 11th 8K, that your question about "why buy more shares STUPID" would only apply to shares bought after Jan. 11th. Thanks for all your input. It has and continues to be very helpful to me. Los
If Neomedia is all that it's cut out to be, I believe that the company will emerge from this a much better company with regards to it's common shareholders. Los
neom, I believe the court will look at many if not all the issues surrounding these derivatives and ammendments in making a determination in claws suit. I believe YA is on shakey ground here. Los
[EDIT] lucky, As opposed to the illegal fleecing and screwing that's been going on? By the same token, I ask that you watch and see why I believe that the way this is being handled is the best possible way. I guess we'll have to agree to disagree about this, in a friendly way, I hope. Los [lucky, I could lay out all my reasons for thinking about this the way I do, but I won't publically nor privately.] I guess we'll see.
claw, I'm not a premium member. I have something regarding SEC I want to pass along to you. It may be meaningless but I want you to have it if helpful, good, if meaningless then disregard it. I'm waiting for happy hour to PM it to you and explain what I'm talking about. Thanks Los
Pop, If you'll research similar cases, you'll see that a successful conclusion to claw's suit may not rid us of YA, but you will also see that the possibility exists that it very well could. Los
lucky, If that be the case, then why all your consternation over how the suit is being handled? Los
Pop, Research the remedy by Delaware Chancery Court in the Loral Space Communications transaction with MHR Investments. The remedy might surprise you as well as the courts reasons. You may read some things that sound quite familiar to YA/Neomedia. Los
Pop, Please research some judges rulings in some similar cases. You might be surprised at what some possible outcomes might be, including getting rid of YA's ability to continue to dilute. Not only ruled but appealed and upheld. If you'll give me a few minutes, I'll go back and give you case in point. Los
John, That's why I believe [strongly] that claw's suit and it's well thought out approach is our best hope of breaking YA's stranglehold on this company before YA simply takes it all. Which is exactly what I believe has been YA's plan for sometime. Los
That's the way I see it, John, at least not without YA's approval, and only on due dates without penalties and threat of massive conversion by YA. Los
Pop, Nor does the SEC abandon any on going investigation because of a suit either. Los
John, YA doesn't allow NEOM to sell shares direct. Another one of those pesky strings attached. Los