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Neom2006: NEOM management has no choice but to approve this. Cornell wants it so they get it. They are calling all the shots regarding financing. Until we get rid of them, they will call all shots regarding financing... and none of it will benefit the retail shareholders.
It's getting hard to see a good ending to this. Should be an interesting Shareholder meeting.
Is it fair to say that Jay and all board members are responsible for our current situation. Unless some revealing PRs tell me this business is in much better shape than it seems, why should any of these board members be voted back. Am I wrong here? Who can actually vote for them and sleep well at night.
With the share price being less than a penny and no real guidance from the company on what business we are going to be in tomorrow, this should be one ugly shareholder meeting. I will be unable to attend, but I will vote for a new chairman if someone will nominate someone.
Read the bonus section. Why should Jay or anybody receive any bonuses?
PeeVeeCee: So what you're saying is that we have money in the bank! Wooohooo!!
Thanks Crashman.
Jbwins, I actually came up with 10 million based off memory, but remember someone giving some high estimates of 20 million, so I fudged to the high end since I completely discounted Gobility, and any other partial ownerships we may maintain. However, to answer your question more directly, I pulled it out of thin air and have nothing to back it up.
Okay, noone else commented on my post from the other day, so I am going to take a stab in the dark at the value of MOBL. Let's make a wild guess and based off what little we know, let's assume that Mobl ends up with $20 million in cash after they sell everything and pay of Cornell. Let's also assume that Gobility and anything else will be valued at next to nothing since we don't know what is going to happen with their business plan. At 775 million shares outstanding and $20 million cash on hand(a guess). That would put the share price at around 2.5 cents. Any comments?
I have seen another company that basically sold everything and had mostly cash and real estate holdings. Their stock price then became mostly a reflection of their cash holdings. Using this thought process for MOBL with no futher dilution and using conservative estimates on everything else we need to sell... where does that put MOBL's share price. For those who have a good handle on cash on hand, etc. your input is greatly appreciated. Whatever the answer, it will the near term stock price on MOBL until a new business plan is developed for the cash.
Anyone see that Clearwire(clwr) is up almost $5 today on some deal with Sprint?
Mickey, can you verify that TS actually sent out that message.
WOW! Basically selling the whole company and starting over from Scratch. Holy crap! I didn't even think that was legal. How many mulligans can you use in this game?
Can't find the post, but didn't someone email the company and they said we sold all of kite, broadband and municipal wifi, much like it appears in the 8k.
Without a PR, my hope is that Murphy will get some info and clear up things with his update tomorrow. I hope someone posts it when it comes out.
I think HP will be the $10 million strategic investor in NEOM before long.
Micropaint to be sold in 60 days
Triton to be sold in 90 days
Strategic investor in 90 to 120 days ( $10 million.. couldn't comment on structure)
Burn rate 500-700k per month
This should provide enough cash to operate through year end, with the strategic investor pushing it out to two years
Not much happening with Newscorp(test mode) and no significant revenue
New CEO by mid July
Rebranding Qode to include all ticketing, etc. to offer a complete suite of tools, (no timeline given)
NEOM is happy with progress of MC2 meetings. PR's will come from MC2 on status of meetings.
Keywords still available, but not many people using them. They are part of the overall package and will continue to be.
Sales force - 7 direct - 12 to 15 indirect.
Couldn't get the site to pull up. What did it show?
Thanks Mickey. eom
A good way to look at all the aquisition damage is to pretend that we only bought one company, Gavitec. We paid alot for it, but it is definitely going to be worth it.
That pisses me off. The whiners win.
Thanks. eom
Any TS or Murphy updates this week? eom
I agree 100%! eom
Approx. $6 million will give you a controlling interest in this company. One could spend $6 mill, take control of the board. Stop the build outs, return to profitability, sell off each piece of the company and easily triple your 6 mill, especially considering revenues are around $100 mill. The common shareholder still gets screwed, but not as bad as they are now. Actually depending on the sum of the pieces, individuals, may come out okay.
Who wants to buy MOBL for $6 mill? We could wait till it drops to a penny and pick it up for even less, but why be greedy, it should be easy money at this point. We have to maintain a controlling interest for this to work.
Think there is anyone else looking at this possibility? Cornell deals with all kinds of people, so it's possible.
According to Yahoo, current market cap is around $11 million. Not in a position to be negotiating any IPO, buyout or anything. Would love to know what the Board is planning. Can't believe we are sitting a little over one penny. Never thought I would see this day. They can continue to operate with Cornell at these prices, but the dilution will make our investments permanently worthless. I haven't lost all faith, but this has got to be the bleakest moment. Darkest before the Dawn? I hope so.
Appreciate the insight. eom
Thank you Zgoldies. eom
How much do they still owe on the $7million loan?
Thanks. eom
Can someone give me the contact info for investor relations. I tried going to the NEOM and Qode website, but I can't get on either this morning. Thanks in advance.
Is this going to be a record low volume close?eom
Am I correct in seeing less than 150k shares traded today?
Banks,
Read that last paragraph again. I think the PP wrote the last sentence. I would say she is no longer in our court if she ever was.
"Pondering Primate readers might find Jonathan Bulkeley's "brick and mortar to Internet" transition background a bit interesting. He is no stranger to transformation and prior art patent disputes. During his term as CEO of BarnesandNoble.com, Amazon.com filed a lawsuit against BN.com, claiming BN.com was infringing on their "one click to buy" patent. The updating of US patent law to account for the Internet age started to pick up steam at this time.
The outcome? Let's just say innovation trumped prior art."
News - Roger Pavane replaced.
http://biz.yahoo.com/prnews/070419/nyth057.html?.v=89
FT MYERS, Fla., April 19 /PRNewswire-FirstCall/ -- NeoMedia Technologies, Inc. (OTC Bulletin Board: NEOM - News) announced today that it has hired Jay Bonk, who has been working for the company on a consulting basis, as interim Executive Vice President of Sales and Marketing. Bonk replaces Roger Pavane.
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A longtime sales executive with Motorola, Bonk's experience includes 22 years with Motorola, including stints as Vice President of Business Development and Vice President of Global Sales and Marketing. Bonk personally secured Motorola's first contract to provide electronic controls to Ford, retaining the account for 15 years and growing annual revenues to $200 million.
"We are very pleased to have an executive of Jay's caliber heading up the sales and marketing team until a permanent Executive Vice President can be found," said Chas Fritz, Chairman and interim CEO of NeoMedia Technologies.
Are we due for another conference call in the middle of may?
All of the above and then some. From the PR, a quote from Jay makes it look like the whole company is up for sale. "parts of the businessand/or the whole"
"Given the recent trend in our public valuation and the recent inquiries from potential strategic partners, it is my belief that we would best fulfill our fiduciary duty to our public stockholders by pursuing strategic alternatives for the parts of our business and/or the whole," said Jay Wright, Chairman and CEO of MobilePro. "
There must be some serious talks with potential candidates for them to go ahead and announce something in a PR. Vague, but obviously things are happening. I just hope the fidiciary duty to protect shareholder value is truly on the table. What is Jay's average shareprice from all his purchases. That may tell me if I am screwed.
Does anyone get the feeling that if we do not IPO Kite successfully, this stock will not recover anytime soon. Thus, they will not be able to support the rollouts by using Cornell. Thus they can't deploy new cities. An aweful lot riding on this IPO. Here's to a successful IPO. I didn't expect us to get to this point. Really starting to feel like an all or nothing situation. Good luck everyone. I expect some news on the subject before the end of the month, finalized or not.
Anyone get the feeling that they may have more of these PRs ready to come out soon?