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Your characterization about the company being taken from us and given to a few select people is not far off base either.
The only question is which of the nitwits allowed this to happen. We knew that David Dodge was in his early thirties and simply did not have the practical experience to match up with the Cornell sharks. I think CJ just said do it, things cannot get much worse anyhow. I also think they had come to the realization that Neomedia, in and of itself, was not going to generate any revenues anytime in the near future, and thus tried to create the so-called supercompany with a careless and reckless disregard, AT BEST, for their common shareholders.
And yes, they do have a fiduciary responsbility which they clearly did not uphold.......that does not mean, however, that there is any meaningful recourse for stockholders.
Trust me, Drmyke, you are NOT looking at it the wrong way. Common shareholders have been hosed and hosed on this deal, all the while the insiders continue to live well and continue to re-price options, etc.
Or should I say you occasionally see the truth of the matter. I also see the other hopeful side of you, and I do understand that if you buy the technology case for Neomedia, you can still hope against hope that it can somehow recover.
It can NEVER recover very much, simply because of the dilution, the unbelievable dilution, the dilution that caused Tobin to brand these clowns as the "KINGS of dilution".
If there was anything very good going on, it would be reflected in some serious if stealthy buying, and there has simply been none.
Now if you bought this stock at .04 and it moved to .06 that would be huge they would tell us, and it would if you truly bought it at .04, but when many have fallen from .40 or .50 or some even from .60 or higher to under .05, getting it up a penny or two is just a drop in the bucket....you need a 1000% move in this stock to recover alot of people.
SOS, aint nothing new here.....in December, it was wait until January, and then they were sure February was the breakthrough month, and then it was wait until CTIA and big things will be revealed and you will see how great Neomedia is.
Well, however great they WERE going to be, they can never be due to incessant dilution and less than pro-active sales and marketing. While they were waiting on the world to discover them in Ft. Myers, the rest of the great tech minds of this world were moving fast.
And I think even the skeptics on here now have to acknowledge the great number of companies out there and the almost daily changes in this wonderful age of incredible technology progress that we live in.
1 of 20 partners.......the effect seems diluted, like the stock. Reading on here with the usual cheer, I surely would have thought NEOM and QCOM were to be like two honeymooners or such.
Well, the group of cheerleaders and hold on a little longer gangmembers have been telling us for months that this CTIA show is where all the Neomedia wonders will come together and suggested or said or implied that shareholders would be hugely rewarded.
What will they say when it comes and goes without any announcement about REAL revenue-generating deals??
I suppose they will say NOW PEOPLE KNOW ABOUT NEOMEDIA BECAUSE OF THE SHOW SO WE SHOULD OVERLOOK THE SAD STATE OF THE PPS for another year and give the latest management bunch a year to right the ship, since it was so badly damaged by the last bunch.
What I can tell you people is that management, between being rightly labeled "the kings of dilution" and the most incredibly ill-advised buying spree with THIRTY NINE CENT GUARANTEES on a stock that has fallen to about a tenth of that.......well, folks, those two things have doomed your investment.
And that is before we even discuss the fact that the world of technology with it's lightning speed change has left Neomedia behind and is another reason that other tech companies have simply said thanks, gang, but NO THANKS, we can find no reason to concern ourselves with your alleged patents.
And what did they do with 50 million more options or some such recently????????????
Do not own shares as we speak but have been in and out of this stock numerous times over last couple of years, much to my detriment, though a few of the trades were profitable, but overall, like the vast, vast majority on here, lost considerably on this misguided ship ride!!
Upside?? Well, if the tech is as cutting edge as some of you think, then yes, there should be some upside......on the other hand, the incessant dilution and shopping spree blunders have diminished the value of your investment so much that it makes you wonder if this can be overcome.
When you dilute THIS MUCH, and when you seem to have no meaningful revenues, the ship takes on water at a truly alarming rate, and the ship is in danger of sinking altogether, unless you count a sub-penny stock as being an investment.
The case of mismanagement cannot be overstated here, and the clock is ticking......if you can get a big name TRULY AND MEANINGFULLY involved with neomedia, then perhaps the ship can change directions. However, I am not sure that most on here understand how hard it is to recover the PPS in light of this massive amount of dilution.
I believe the highly regarded Joe Dimaggio said something last week about how difficult it would be to recover much share price.
Thanks for the laugh, Paperclick.......no matter where you stand on Neomedia, the "bald-headed" shot is a wonderful laugh!!!!!!!
Let's hear it for a little levity!!!!!!!!
Regarding the earlier responses to my YJ post, thanks for the most predictable posts from the usual beleaguered candidates...LOL
And regarding the poster who used the term flag carrying I must correct your spelling, I am sure you meant bag carrying!! LOL
Congratulations to YJ for facing the harsh reality of the situation....after being one of the primary dream teamers on here and having more of his time and energy than is healthy involved here, he has made the forward thinking decision to disengage.
Of course, it might also be like some others, where the posting ended because there is nothing they could possibly say other than the fact that they have been wrong, as in dreadfully.
To YJ's credit, at least he acknowledged IT IS WHAT IT IS, that is closer to an admission of being dead wrong than most on here are honest enough to offer.
Indeed, tax selling, I would venture....and it looks like wise selling at this point, since the price is down from then to now. In any event, that holding was not that substantial to begin with...not like they had several million shares and bailed out.
Drmyke, sir, you have been correct in your view that ownership has been transferred, to primarily Cornell and the owners of the subs.
In hindsight, it was amazing how Neomedia put those several deals together in such a short time. That is not how long these kinds of deals usually take. Of course, now we know why, the companies who sold figuratively said, "You'll do WHAT???? Are you serious, you will guarantee .39?????? Well, give me the pen, let's get this deal done NOW!!!"
You can hope that the stock does not go sub-penny, perhaps it will not, but for the majority who invested a long ways north of here, the dilution has doomed any real chance of ever recovering any reasonable amount of your investment.
I also have a long history with NEOM, as do many on here......the fact that I failed to listen to Tobin at .11 because of being hard-headed like most that are left on this board cost me some money, but at least I finally let my gut rule WHEN CJ ANNOUNCED HIS RESIGNATION. You just had to know that the problems were very, very deep and probably insurmountable when the CEO resigned and then Copus.....top people in a company do not resign or get forced out if good things are about to happen, SIMPLE AS THAT.
And I told you before it was not an easy feat for Tobin Smith to swallow that huge ego and admit he had been duped and had made a terrible mistake associating his name with Neomedia.
He expressed his frustration on a number of occasions before pulling the plug, at great expense to his reputation and to huge wrath from many investors.
You brought up MOBL, yes, that is where I am at, but am not here to pump that stock, as it is a trade not a company that I would suggest to you is in wonderful shape. It, like NEOM, suffers from the deadly grip of the Cornell braintrust.
Actually sold all at .075 the day CJ announced his resignation. Ain't it a shame the local accountant on this board did not have the accounting understanding and background to see the inevitable and to warn fellow board members that this ship had wrecked in a big way. A few of us have tried to warn our neighbors that the house was on fire, but have repeatedly been met with rebuke.
I am not sure I would publicize the fact that you have an accounting history and have been closely involved with this board and yet failed to grasp the depth of the very apparent situation of the NEOM financials. Self-inflated view of one self, perhaps?? I will leave that no-brainer to others on here.
Sheesh.
Yep, I bought 54000 the other day at .0352, and another 250,000 today at .0395 and am now ready to rock.
We should have some NEOM money moving over here tomorrow as well.
Sean, yes, I will not spam MOBL......you are correct on that one....thanks, man......
And believe it or not, I hope this thing turns for ya...
We are good to go, gangmembers......the bad is priced in and there are a number of positive things that can make it move.
STAY TUNED!!!!!!!!!!!!!!!!
And NOW you know why you have seen no big buying even at .04. Real DD types knew this was inevitable, only the pipe dreamers thought everything was okay.
And I think I warned a day or two ago, that this was for sure.....I think koko or somebody said it was just my opinion.....well, folks, it turned into reality....like I knew it HAD TO!!!!!!!!!
Let me help you here, Mr. Jones......as CJ told me several months ago, the subs had little choice in the matter, as the threat of Neomedia going under was their other alternative.......what he actually said was Neomedia was in a stronger position.......everybody thought, according to him, that the subs had control......he said neomedia was in a much stronger position than people realized because what else could the subs do.....or some such to that effect.
You said:
For some reason, these temporary subs' owners sure don't seem to mind taking gazillions of shares in Neomedia.
And what else does Neomedia have to offer?? Certainly not cash.
Today reminds us, once again, of the foolishness of guaranteeing .39..........how nutty was that??? And now it takes 8 shares of our stock instead of 1 to satisfy the deal.....sheesh.
Tried to tell ya it would not be purdy.
Well, I for one, do appreciate your candor and honesty, whattheheck........but candor and honesty is a rare commodity and a dangerous thing on this board!!!!!!!!!!!
They get angry if you post anything that reminds them that they got duped on this Neomedia affair!!
THANKS FOR POSTING!!!
That is good, now people know a definitive date......
And the price does seem to be stable right here, just above .04.
For me, I will continue to watch and see if the ship can be righted......my only two holdings are some 4.69 MAMA shares and some .0352 MOBL shares.......and no I will not try to tell you that either of these are wonderful companies either.
Nor is it your place, Jonesie, to make a judgement on how effectively the longs have made the case about the negatives, etc....that is in the eye of the reader. To your credit, you are a reasonably objective poster, but you are the exception not the rule on here.
And thanks to all for validating the substance of my posts regarding the company. We still wait to see if any of the pep squad leaders can acknowledge that they have been dreadfully wrong.
And we still call on the company to clarify what happened to the paint sale, etc.......these are reasonable requests.
You would be better served, Jonesie, to address the issues, or have your people that are in touch with the company, address the issues, and spend less time attacking me for my to the point and clearly stated posts about the company.
No, you are truly an objective poster, and a reasonable and even affable guy, it seems.....no problem there. All my posting is in response to the hype and misrepresentation and suggestive comments by a few of the leaders on here, and quite frankly, is sorely needed.
If nobody cares to answer, that only confirms the truth of the state of the ship that my posts suggest.
I do not need to answer anything, I simply hope to make a few of the silent readers see the reality of the Neomedia adventure, which is clearly different than the pep squad on here has led them to believe.
But thanks for trying, Jonesie!!
In fact, the term "cash cow" was used by Dave Kaminer in a conversation I had with him ONE DAY after it was announced. I asked what was the thinking in buying an unrelated company and he said CJ had told him they bought it as a "cash cow" that would hopefully sustain the company until the tech caught on and started producing revenues.
Just so you know.... that was the description from the IR gentleman when they bought the micropaint business.
JP, can you clarify what you meant when you said something to the effect that the micropaint business will be "the last" to be sold, or some such?? And if so, why that might be?? Did the company or did it not have a November closing date that was even mentioned in a PR?? Can you ask your connection to see if they will update the investment community??
According to many on here, the sale of micropaint was going to be worth several million dollars that would buy the ship some more time, so please see if you can get a reasonable explanation as to why they HAVE BEEN UNABLE to sell it??
Could it be that the business model simply does not work and after people looked at the books and the future prospects and THE COMPETITION, that they may have simply and clearly determined that this was nothing more than a desperate and failed attempt to buy a cash cow, but that it turned out that the cow did not produce cash, rather it turned out to consume cash, not to mention taking time and energy away from other more important company affairs??
YES HE DOES, at least as of Tuesday!!!!
He has said on a couple of recent occasions that you simply have to take the chance at these depressed levels.
Time to buy,gang.......more shares for Cornell, of course, was revealed yesterday and we held up fine today.......the NEXT NEWS should be positive now that we got the 8-K out of the way....several potential catalysts on the horizon. GET IN THE STOCK IN FRONT OF ANY OF THEM!!!
Risk/reward now heavily on the reward side.....whatever damage was going to be done would have come today and it did not.
In one very simple word, buy. We loaded in the .034-.035 area and will now watch her move back up, like she did late today.
The dearth of buying at this sub .041 level is remarkable. You would think, if ANYTHING good was coming, that someone would be boating up.
Look for some kind of fluffed PR around CTIA and about the same time the bomb will be dropped on ya........what bomb????
The financials that you thought you would get on the 16th....keep hoping that somebody at the company can pull a rabbit out of the hat.
But also keep an eye on your backside because the Hoser will be bringing the truth that only the numbers can reveal, and it ain't gonna be purdy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
$2,000,000 MORE DOLLARS to go with the FREE DOLLARS the NEOMEDIA braintrust gave them, courtesy of the insane and irresponsible buying spree!!!!!!
As previously stated, in case you missed it, IMHO.......and that is based on the stellar or not so stellar record of the Ft. Myers group.
If they intended to sell and got a reasonable offer, they would have sold, right??
Come on, man, show us some objectivity, JUST ONCE!!!
Quite sure if the truth were revealed, you would find that the only offers for the paint business were so low, that they had to decline them to save face........otherwise, they would open themselves up, deservedly I might add, for more shareholder wrath.
"Last" is a nice way of saying that is another screwed up deal and one we do not want to deal with in the near term........why??? Same as always with NEOM, things are WORSE than you usually know!!
As some would say, IMHO!!!!!!!!!!!!
Huge news, huh?? And the stock is DOWN?? Say it ain't so!!!!!!!
What this reveals is the two primary torpedo shots to the ship have done much more damage than those of you on the surface of the ship seem to grasp..
What two torpedoes?? Incessant dilution and the desperate buying spree!!!!!!
This BREW news was much ballyhooed on here for several months, SOME OF YOU told us it would be a big catalyst for the PPS.
Once again, add another prediction to the garbage heap!!!!
Sheesh!!!!!
Great post, well stated......thanks!!
Well, sir, of course, post what you need to post, but I must tell you we are not concerned about Jonesie rejecting your dd, but it is the absolute rejection of your dd over the last year BY THE MARKET that concerns us and has cost people a fortune, listening to the dot-connecting hopes and dreams.
Most of the dot-connecting would be better characterized by the dots, as in decimals, that keep getting closer to the numbers on the left side of people's account balances!!
What about the 10Q? Hey JP, do you think it is going to be as bad as I think it is??
I forget who the poster was, but I know somebody has suggested it will reveal more about the reasons some of the bigs jumped ship.
Was anybody on here naive enough to think that big things were very close when CJ resigned?? And many of you portrayed Martin Copus as the guy who was our savior, who had arrived just in time to put the discombulated pieces together before the whole thing collapsed of it's own weight.
Why did he leave??????
One thought for you today. I want you to KNOW that the 10Q is going to reveal that the problems at Neomedia are worse than you can imagine.........needless to say, no matter how bad the situation is revealed to be, some will say everything is great, and now that we got that resolved, etc.......LOL
You said the same thing would happen when they settled with some of the subs, didn't you?? And what has happened since?? Nothing but more erosion of your stock account.
This company is very, very sick, and the illness may just prove to be fatal.
Stay tuned.
Visionary as in having a head start in the game, but REPEATEDLY fumbling and calling the wrong plays?? The buying spree almost makes you wonder if our play caller was not working for another team, CERTAINLY NOT THE COMMON SHAREHOLDER TEAM!!!!!!!!.......or did you mean visionary as in guiding the boat down the river from .70 to .045, a near 95% loss???
Sheesh, please take off the blinders, you could be dangerous....blind loyalty can be a very expensive thing.....the Blind Faith Neomites can testify to that.
One more thing, this MM arena is changing on a daily basis, and the potential is, without doubt, huge, and the dogfights of the future will be many and the graveyard will be littered with the wannabees. Neomedia will likely be one of the first to be remembered.
Neomedia will be remembered as one of the first to misgauge and mismanage their opportunity, and also for the callous disregard of their COMMON shareholders, all the while making sure that they had no liability for their poor decisions, and also granting themselves more and more goodies even as the nightmare unfolded.
I do not begrudge a 76 year-old gentleman selling his shares, particularly in light of how many he has.
But the real concern is there are untold millions of other shares out there waiting for any little move to dump, not to mention Cornell and their steady dumping.
This is truly a case of why they have the descriptive word toxic in "toxic financing". Kind of like quicksand, once it starts, it generally consumes you.
Death spiral financing at it's best....damned if you do and damned if you don't.
Some of you should encourage Cramer or Motley Fool or some other entity to do an in-depth article on the vulture capitalists in this country, of which Cornell is the consensus champion.
Did anyone ever determine why Neomedia is not listed on the Cornell client list??
Cjzak, you are one of the top three on this board that are in truly unbelievable denial.
How could he sell all the shares at one time, for starters??
I remember when Chas was selling and I spent about 25 minutes on the phone with CJ, and he offered absolute assurance that it was nothing to worry about, that the company was soon to have some great things happening, etc. and that the only reason Chas sold was he had some real estate obligations or something.
The lesson I learned was real simple, next time one of these clowns starts telling you to disregard an issue like another insider selling millions of shares, that I will listen to my gut, not what someone with vested interest has to say.
This stock just does not have much chance between all the ones given to CJ and then the re-pricing for Cornell and the recent 50 million share event of a few weeks ago.....there are way too many people waiting for any little move to unload bookoos of this stock, so they can get on with the rest of their lives.
But I will agree with you that the 6 million share sale is not the end of the world........in fact, it is only a minor problem relative to the dilution and the 12Snap unsettlement and the micropaint unsale...and more than anything else, that ALL OF THE BIG GUYS have dropped by to check the merchandise, and yet none of them have chosen to do serious business with NEOM.......the fickle Drmyke says the story is not finished, no it is not, and that is a shame as it will only get worse from here.
Just one more reminder of the lack of action regarding Neomedia. Scanbuy and others, with viable marketing teams, have just about done Neomedia in. You cannot overstate the folly of the buying spree, nor can you overstate the managerial ineptitude........and while they were looking at each other hoping the next guy might pull a rabbit out a hat..........well, let's just say this amazing world of technological growth that we live in kept on trucking, with greater speed than ever.